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[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3777 Introduced in House (IH)]

112th CONGRESS
  2d Session
                                H. R. 3777

To resolve title issues involving real property and equipment acquired 
    using funds provided under the Alaska Kiln Drying Grant Program.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                            January 17, 2012

 Mr. Young of Alaska introduced the following bill; which was referred 
                    to the Committee on Agriculture

_______________________________________________________________________

                                 A BILL

 
To resolve title issues involving real property and equipment acquired 
    using funds provided under the Alaska Kiln Drying Grant Program.

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

SECTION 1. RESOLUTION OF REAL PROPERTY AND EQUIPMENT TITLE ISSUES UNDER 
              ALASKA KILN DRYING GRANT PROGRAM.

    (a) In General.--Notwithstanding part 3019 of title 7, Code of 
Federal Regulations (the Uniform Federal Assistance Regulations of the 
Department of Agriculture), title to real property and equipment 
acquired using funds provided by a grant under the Alaska Kiln Drying 
Grant Program, as described under the heading ``State and Private 
Forestry'' in House Reports 106-914 and 107-234, shall vest in the 
grant recipient in accordance with the compensation schedule specified 
in subsection (b) or as provided in subsection (c).
    (b) Compensation Schedule.--
            (1) Period of application.--The compensation requirements 
        of this subsection apply to a grant provided under the Alaska 
        Kiln Drying Grant Program during the four-year period beginning 
        on the date on which the grant was closed.
            (2) Compensation schedule.--If real property or equipment 
        acquired using funds provided by a grant under the Alaska Kiln 
        Drying Grant Program is no longer to be used for the purposes 
        for which the grant was made, the grant recipient may sell, or 
        may retain title to, the real property or equipment upon 
        payment to the Secretary of Agriculture of compensation as 
        follows:
                    (A) During the first year of the four-year period, 
                the grant recipient shall pay an amount equal to 80 
                percent of the proceeds of the sale, if the real 
                property or equipment is sold, or 80 percent of the 
                market value of the real property or equipment, if 
                title is to be retained by the grant recipient.
                    (B) During the second year of the four-year period, 
                the grant recipient shall pay an amount equal to 60 
                percent of the proceeds of the sale, if the real 
                property or equipment is sold, or 60 percent of the 
                market value of the real property or equipment, if 
                title is to be retained by the grant recipient.
                    (C) During the third year of the four-year period, 
                the grant recipient shall pay an amount equal to 40 
                percent of the proceeds of the sale, if the real 
                property or equipment is sold, or 40 percent of the 
                market value of the real property or equipment, if 
                title is to be retained by the grant recipient.
                    (D) During the final year of the four-year period, 
                the grant recipient shall pay an amount equal to 20 
                percent of the proceeds of the sale, if the real 
                property or equipment is sold, or 20 percent of the 
                market value of the real property or equipment, if 
                title is to be retained by the grant recipient.
    (c) Divestiture.--After the end of the four-year period beginning 
on the date on which a grant provided under the Alaska Kiln Drying 
Grant Program was closed, real property or equipment acquired using the 
grant funds may be retained or disposed of by the grant recipient with 
no further obligation to the Federal Government.
                                 <all>
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