[Congressional Record Volume 161, Number 175 (Thursday, December 3, 2015)]
[Senate]
[Page S8389]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2894. Mr. LEE submitted an amendment intended to be proposed to 
amendment SA 2874 proposed by Mr. McConnell to the bill H.R. 3762, to 
provide for reconciliation pursuant to section 2002 of the concurrent 
resolution on the budget for fiscal year 2016; which was ordered to lie 
on the table; as follows:

       At the appropriate place, insert the following:

     SEC. ____. PAYMENTS IN LIEU OF TAXES.

       Section 6903 of title 31, United States Code, is amended--
       (1) in subsection (b)(1), in the matter preceding 
     subparagraph (A), by striking ``A payment'' and inserting 
     ``Except as provided in subsection (e), a payment''; and
       (2) by adding at the end the following:
       ``(e) Alternate Payment.--
       ``(1) In general.--A unit of general local government may 
     opt out of the payment calculation that would otherwise apply 
     under subsection (b)(1), by notifying the Secretary of the 
     Interior, by the deadline established by the Secretary of the 
     Interior, of the election of the unit of general local 
     government to receive an alternate payment amount, as 
     calculated in accordance with the formula established under 
     paragraph (2).
       ``(2) Formula.--As soon as practicable after the date of 
     enactment of this subsection, the Secretary of the Interior 
     shall establish an alternate payment formula that is based on 
     the estimated forgone property taxes, using a fair market 
     valuation, due to the presence of Federal land within the 
     unit of general local government without raising new 
     revenue.''.
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