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[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[S. 1552 Introduced in Senate (IS)]

110th CONGRESS
  1st Session
                                S. 1552

 To authorize the Administrator of General Services to convey a parcel 
          of real property to the Alaska Railroad Corporation.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                              June 5, 2007

 Ms. Murkowski introduced the following bill; which was read twice and 
       referred to the Committee on Environment and Public Works

_______________________________________________________________________

                                 A BILL

 
 To authorize the Administrator of General Services to convey a parcel 
          of real property to the Alaska Railroad Corporation.

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

SECTION 1. CONVEYANCE OF GSA FLEET MANAGEMENT CENTER TO ALASKA RAILROAD 
              CORPORATION.

    (a) In General.--Subject to the requirements of this section, the 
Administrator of General Services shall convey, not later than 2 years 
after the date of enactment of this Act, by quitclaim deed, to the 
Alaska Railroad Corporation, an entity of the State of Alaska (in this 
section referred to as the ``Corporation''), all right, title, and 
interest of the United States in and to the parcel of real property 
described in subsection (b), known as the GSA Fleet Management Center.
    (b) GSA Fleet Management Center.--The parcel to be conveyed under 
subsection (a) is the parcel located at the intersection of 2nd Avenue 
and Christensen Avenue in Anchorage, Alaska, consisting of 
approximately 78,000 square feet of land and the improvements thereon.
    (c) Consideration.--
            (1) In general.--As consideration for the parcel to be 
        conveyed under subsection (a), the Administrator shall require 
        the Corporation to--
                    (A) convey replacement property in accordance with 
                paragraph (2); or
                    (B) pay the purchase price for the parcel in 
                accordance with paragraph (3).
            (2) Replacement property.--If the Administrator requires 
        the Corporation to provide consideration under paragraph 
        (1)(A), the Corporation shall--
                    (A) convey, and pay the cost of conveying, to the 
                United States, acting by and through the Administrator, 
                fee simple title to real property, including a 
                building, that the Administrator determines to be 
                suitable as a replacement facility for the parcel to be 
                conveyed under subsection (a); and
                    (B) provide such other consideration as the 
                Administrator and the Corporation may agree, including 
                payment of the costs of relocating the occupants 
                vacating the parcel to be conveyed under subsection 
                (a).
            (3) Purchase price.--If the Administrator requires the 
        Corporation to provide consideration under paragraph (1)(B), 
        the Corporation shall pay to the Administrator the fair market 
        value of the parcel to be conveyed under subsection (a) based 
        on its highest and best use as determined by an independent 
        appraisal commissioned by the Administrator and paid for by the 
        Corporation.
    (d) Appraisal.--In the case of an appraisal under subsection 
(c)(3)--
            (1) the appraisal shall be performed by an appraiser 
        mutually acceptable to the Administrator and the Corporation; 
        and
            (2) the assumptions, scope of work, and other terms and 
        conditions related to the appraisal assignment shall be 
        mutually acceptable to the Administrator and the Corporation.
    (e) Proceeds.--
            (1) Deposit.--Any proceeds received under subsection (c) 
        shall be paid into the Federal Buildings Fund established under 
        section 592 of title 40, United States Code.
            (2) Expenditure.--Amounts paid into the Federal Buildings 
        Fund under paragraph (1) shall be available to the 
        Administrator upon deposit for expenditure for any lawful 
        purpose consistent with existing authorities granted to the 
        Administrator; except that the Administrator shall provide to 
        the Committee on Transportation and Infrastructure of the House 
        of Representatives and the Committee on Environment and Public 
        Works of the Senate 30 days advance written notice of any 
        expenditure of the proceeds.
    (f) Additional Terms and Conditions.--The Administrator may require 
such additional terms and conditions to the conveyance under subsection 
(a) as the Administrator considers appropriate to protect the interests 
of the United States.
    (g) Description of Property and Survey.--The exact acreage and 
legal description of the parcels to be conveyed under subsections (a) 
and (c)(2) shall be determined by surveys satisfactory to the 
Administrator and the Corporation.
                                 <all>
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