[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[S. 508 Introduced in Senate (IS)]

111th CONGRESS
  1st Session
                                 S. 508

To provide for the conveyance of certain Bureau of Land Management land 
 in the State of Nevada to the Las Vegas Motor Speedway, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 2, 2009

 Mr. Ensign (for himself and Mr. Reid) introduced the following bill; 
   which was read twice and referred to the Committee on Energy and 
                           Natural Resources

_______________________________________________________________________

                                 A BILL


 
To provide for the conveyance of certain Bureau of Land Management land 
 in the State of Nevada to the Las Vegas Motor Speedway, 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. DEFINITIONS.

    In this Act:
            (1) Federal land.--The term ``Federal land'' means the 
        approximately 115 acres of Bureau of Land Management land 
        identified on the map as ``Lands identified for Las Vegas 
        Speedway Parking Lot Expansion''.
            (2) Map.--The term ``map'' means the map entitled ``Las 
        Vegas Motor Speedway Improvement Act'', dated February 4, 2005, 
        and on file in the Office of the Director of the Bureau of Land 
        Management.
            (3) Secretary.--The term ``Secretary'' means the Secretary 
        of the Interior.

SEC. 2. CONVEYANCE OF FEDERAL LAND TO NEVADA SPEEDWAY.

    (a) In General.--If, not later than 30 days after the date of 
completion of the appraisal required under subsection (b), Nevada 
Speedway, LLC, submits to the Secretary an offer to acquire the Federal 
land for the appraised value, notwithstanding the land use planning 
requirements of section 202 and 203 of the Federal Land Policy and 
Management Act of 1976 (43 U.S.C. 1712, 1713), the Secretary shall, not 
later than 45 days after the date of the offer, convey to Nevada 
Speedway, LLC, all right, title, and interest in and to the Federal 
land, subject to valid existing rights.
    (b) Appraisal.--
            (1) In general.--Not later than 120 days after the date of 
        enactment of this Act, the Secretary shall complete an 
        appraisal of the Federal land.
            (2) Applicable law.--The appraisal under paragraph (1) 
        shall be conducted in accordance with--
                    (A) the Uniform Appraisal Standards for Federal 
                Land Acquisitions; and
                    (B) the Uniform Standards of Professional Appraisal 
                Practice.
            (3) Costs.--All costs associated with the appraisal 
        required under paragraph (1) shall be paid by Nevada Speedway, 
        LLC.
    (c) Payment of Consideration.--Not later than 30 days after the 
date on which the Federal land is conveyed under subsection (a), as a 
condition of the conveyance, Nevada Speedway, LLC, shall pay to the 
Secretary an amount equal to the appraised value of the Federal land, 
as determined under subsection (b).
    (d) Costs of Conveyance.--As a condition of the conveyance, any 
costs of the conveyance under subsection (a) shall be paid by Nevada 
Speedway, LLC.
    (e) Reversion.--If Nevada Speedway, LLC, or any subsequent owner of 
the Federal land conveyed under subsection (a), uses the Federal land 
for purposes other than a parking lot for the Nevada Speedway, all 
right, title, and interest in and to the land (and any improvements to 
the land) shall revert to the United States at the discretion of the 
Secretary.
    (f) Disposition of Proceeds.--The Secretary shall deposit the 
proceeds from the conveyance of Federal land under subsection (a) in 
the Federal Land Disposal Account established under section 206(a) of 
the Federal Land Transaction Facilitation Act (43 U.S.C. 2305(a)).

SEC. 3. WITHDRAWAL OF FEDERAL LAND.

    Except as provided in section 2(a) and subject to valid existing 
rights, the Federal land is withdrawn from--
            (1) all forms of entry, appropriation, and disposal under 
        the public land laws;
            (2) location, entry, and patent under the mining laws; and
            (3) operation of the mineral leasing, mineral materials, 
        and geothermal leasing laws.
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