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[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 644 Introduced in Senate (IS)]

114th CONGRESS
  1st Session
                                 S. 644

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

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             March 3, 2015

 Ms. Murkowski (for herself and Mr. Sullivan) introduced the following 
      bill; which was read twice and referred to the Committee on 
                  Agriculture, Nutrition, and Forestry

_______________________________________________________________________

                                 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) Definition of Program.--In this section, the term ``Program'' 
means the Alaska Kiln Drying Grant Program that is described--
            (1) in the matter under the heading ``state and private 
        forestry'' under the heading ``Forest Service'' under the 
        heading ``Department of Agriculture'' in title II of the 
        conference report accompanying H.R. 4578 of the 106th Congress 
        (House Report 106-914); and
            (2) in the matter under the heading ``state and private 
        forestry'' under the heading ``Forest Service'' under the 
        heading ``Department of Agriculture'' in title II of the 
        conference report accompanying H.R. 2217 of the 107th Congress 
        (House Report 107-234).
    (b) Vesting of Title.--Notwithstanding chapter IV of subtitle B of 
title 2, Code of Federal Regulations (or successor regulations), title 
to real property and equipment acquired using funds provided by a grant 
under the Program shall vest in the grant recipient--
            (1) in accordance with the compensation schedule described 
        in subsection (c)(2); or
            (2) as provided in subsection (d).
    (c) Compensation Schedule.--
            (1) Period of application.--The compensation requirements 
        of this subsection shall apply to a grant provided under the 
        Program during the 4-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 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 on payment to the Secretary of 
        Agriculture of compensation as follows:
                    (A) During the first year of the 4-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 4-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 4-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 4-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.
    (d) Divestiture.--After the end of the 4-year period beginning on 
the date on which a grant provided under the 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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