[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5350 Received in Senate (RDS)]

  2d Session
                                H. R. 5350


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

           September 22 (legislative day, September 17), 2008

                                Received

_______________________________________________________________________

                                 AN ACT


 
  To authorize the Secretary of Commerce to sell or exchange certain 
  National Oceanic and Atmospheric Administration property located in 
               Norfolk, Virginia, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SALE OR EXCHANGE OF NOAA PROPERTY IN NORFOLK, VIRGINIA.

    (a) In General.--The Secretary of Commerce may sell or exchange to 
the City of Norfolk, Virginia, in accordance with chapter 13 of title 
40, United States Code, real property under the administrative 
jurisdiction of the National Oceanic and Atmospheric Administration (in 
this section referred to as ``NOAA''), including land and improvements 
thereon, located at 538 Front Street, Norfolk, Virginia, consisting of 
approximately 3.78 acres, if the Secretary--
            (1) determines that the conveyance is in the best interests 
        of NOAA and the Federal Government; and
            (2) has provided prior notification to the Committee on 
        Natural Resources and the Committee on Appropriations of the 
        House of Representatives and the Committee on Commerce, 
        Science, and Transportation and the Committee on Appropriations 
        of the Senate.
    (b) Consideration.--
            (1) In general.--For any conveyance under this section the 
        Secretary shall require the City of Norfolk to provide 
        consideration to the United States that is not less than the 
        fair market value of the property conveyed by the United 
        States.
            (2) Form.--Consideration under this subsection may include 
        any combination of--
                    (A) cash or cash equivalents;
                    (B) other property (either real or personal); and
                    (C) consideration in-kind, including--
                            (i) provision of space, goods, or services 
                        of benefit to NOAA including construction, 
                        repair, remodeling, or other physical 
                        improvements of NOAA property;
                            (ii) maintenance of NOAA property;
                            (iii) provision of office, storage, or 
                        other useable space; or
                            (iv) relocation services associated with 
                        conveyance of property under this section.
            (3) Determination of fair market value.--The Secretary 
        shall determine fair market value for purposes of paragraph (1) 
        based upon a highest- and best-use appraisal of the property 
        conveyed under subsection (a) conducted in conformance with the 
        Uniform Appraisal Standards for Professional Appraisal 
        Practice.
    (c) Use of Proceeds.--Amounts received under subsection (b)(2)(A) 
by the United States as proceeds of any conveyance under this section 
shall be available to the Secretary, subject to appropriation, for--
            (1) activities related to the operations of, or capital 
        improvements, to NOAA property; or
            (2) relocation and other costs associated with the sale or 
        exchange.
    (d) Additional Terms and Conditions.--The Secretary may require 
such additional terms and conditions in connection with the conveyance 
of property by the United States under subsection (a) as the Secretary 
considers appropriate to protect the interest of the United States, 
including the recoupment of any profit the City of Norfolk may realize 
within three years after the date of conveyance to the City due to 
resale of the property
    (e) Termination.--The authority granted to the Secretary under 
subsections (a) and (b) shall terminate at the end of the 24-month 
period beginning on the date of enactment of this Act if no contract 
for sale or exchange under subsection (a) has been entered into by the 
City of Norfolk and the United States.

            Passed the House of Representatives September 17, 2008.

            Attest:

                                            LORRAINE C. MILLER,

                                                                 Clerk.