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[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 1492 Enrolled Bill (ENR)]

        S.1492

                     One Hundred Fourteenth Congress

                                 of the

                        United States of America

                          AT THE SECOND SESSION

           Begun and held at the City of Washington on Monday,
           the fourth day of January, two thousand and sixteen

                                 An Act

 
   To direct the Administrator of General Services, on behalf of the 
   Archivist of the United States, to convey certain Federal property 
located in the State of Alaska to the Municipality of Anchorage, Alaska.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. REAL PROPERTY CONVEYANCE.
    (a) Definitions.--In this section:
        (1) Archivist.--The term ``Archivist'' means the Archivist of 
    the United States.
        (2) City.--The term ``City'' means the Municipality of 
    Anchorage, Alaska.
    (b) Conveyance.--
        (1) In general.--As soon as practicable after the date of 
    enactment of this Act and after completion of the survey and 
    appraisal described in this section, the Administrator of General 
    Services, on behalf of the Archivist, shall offer to convey to the 
    City by quitclaim deed for the consideration and under the 
    conditions described in subsection (d), all right, title, and 
    interest of the United States in and to a parcel of real property 
    described in subsection (c).
        (2) Costs of conveyance.--The City shall be responsible for 
    paying--
            (A) the costs of an appraisal conducted pursuant to 
        subsection (d)(1)(B); and
            (B) any other costs relating to the conveyance of the 
        Federal property under this Act.
    (c) Legal Description of Property.--
        (1) In general.--The parcel to be conveyed under subsection (b) 
    consists of approximately 9 acres and improvements located at 400 
    East Fortieth Avenue in the City that is administered by the 
    National Archives and Records Administration.
        (2) Survey required.--As soon as practicable after the date of 
    enactment of this Act, the exact acreage and legal description of 
    the real property to be conveyed under subsection (b) shall be 
    determined by a survey, paid for by the City, that is satisfactory 
    to the Archivist.
    (d) Terms and Conditions.--
        (1) Consideration.--
            (A) In general.--As consideration for the conveyance of the 
        property under subsection (b), the City shall pay to the 
        Archivist an amount not less than the fair market value of the 
        conveyed property, to be determined as provided in subparagraph 
        (B).
            (B) Appraisal.--The fair market value of the property to be 
        conveyed under subsection (b) shall be determined based on an 
        appraisal that--
                (i) is conducted by a licensed, independent appraiser 
            that is approved by the Archivist and the City;
                (ii) is based on the highest and best use of the 
            property;
                (iii) is approved by the Archivist; and
                (iv) is paid for by the City.
        (2) Preconveyance entry.--The Archivist, on terms and 
    conditions the Archivist determines to be appropriate, may 
    authorize the City to enter the property at no charge for 
    preconstruction and construction activities.
        (3) Additional terms and conditions.--The Archivist may require 
    additional terms and conditions in connection with the conveyance 
    under subsection (b) as the Archivist considers appropriate to 
    protect the interests of the United States.
    (e) Proceeds.--Any net proceeds received by the Archivist as a 
result of the conveyance under this Act shall be deposited in the 
Treasury and used for deficit reduction, in such manner as the 
Secretary of the Treasury considers appropriate.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.
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