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[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 703 Introduced in Senate (IS)]

109th CONGRESS
  1st Session
                                 S. 703

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

                             April 5, 2005

 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 30 days after the date of the offer, convey to Nevada 
Speedway, LLC, the Federal land, subject to valid existing rights.
    (b) Appraisal.--
            (1) In general.--Not later than 90 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 
accordance with section 4(e)(1) of the Southern Nevada Public Land 
Management Act of 1998 (112 Stat. 2345).

SEC. 3. WITHDRAWAL OF FEDERAL LAND.

    (a) In General.--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.
    (b) Term of Withdrawal.--The withdrawal of the Federal land under 
subsection (a) shall be in effect for the period beginning on the date 
of enactment of this Act and ending on the earlier of--
            (1) the date that is 2 years after the date of enactment of 
        this Act; or
            (2) the date of the completion of the conveyance of Federal 
        land under section 2(a).
                                 <all>
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