Chester County Reversionary Interest Release Act
Bill: H.R.4415 | Sponsor: Rep. Green, Mark E. (R-TN)
Policy area: Public Lands and Natural Resources

Summary:
Chester County Reversionary Interest Release Act
This bill directs the Department of Agriculture (USDA) to release the reversionary interest of the United States in a 0.62-acre parcel of land in Chickasaw State Forest in Tennessee (the state forest land), if, as consideration for the release, Tennessee agrees to transfer to the United States a vested future interest in the 0.90-acre parcel known as the Webb property that is similar to the reversionary interest in order to facilitate a land exchange between Bethel Baptist Church in Henderson, Tennessee, and the state.
As soon as the state has complied with specified requirements concerning the deed for the state forest land, USDA shall convey to the state the undivided mineral interest of the United States in such land.
Additionally, USDA must determine the mineral character of the state forest land and the fair market value of the U.S. mineral interests no more than 90 days after enactment of this bill. Tennessee must pay the United States the fair market value of the mineral interests.

To direct the Secretary of Agriculture to release certain reversionary 
 interests of the United States in and to a parcel of land located in 
                         Henderson, Tennessee.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Chester County Reversionary Interest 
Release Act''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Secretary.--The term ``Secretary'' means the Secretary 
        of Agriculture.
            (2) State.--The term ``State'' means the State of 
        Tennessee.
            (3) State forest land.--The term ``State forest land'' 
        means the approximately 0.62-acre parcel of land in Chickasaw 
        State Forest that is identified as ``State Forest Land'' on the 
        map prepared by the Forest Service entitled ``State Forest Land 
        Detail Map'' and dated October 9, 2018.
            (4) Webb property.--The term ``Webb property'' means the 
        approximately 0.90-acre parcel of land owned by Kirby and Leta 
        Webb identified as ``Webb Property Lot 1'' on the map prepared 
        by the Tennessee Division of Forestry entitled ``Webb Property 
        Detail Map'' and dated October 9, 2018.

SEC. 3. RELEASE OF REVERSIONARY INTEREST.

    (a) Release.--To facilitate an exchange of land between the Bethel 
Baptist Church in Henderson, Tennessee, and the State, the Secretary 
shall release the reversionary interest of the United States in and to 
the State forest land described in subsection (b) if, as consideration 
for the release, the State agrees to transfer to the United States a 
vested future interest in and to the Webb property that is similar to 
the reversionary interest described in subsection (b).
    (b) Description of Reversionary Interest.--The reversionary 
interest referred to in subsection (a) is the reversionary interest of 
the United States in and to the State forest land that--
            (1) requires that the State forest land be used for public 
        purposes; and
            (2) is contained in a deed--
                    (A) granting from the United States to the State 
                the State forest land;
                    (B) dated August 12, 1955; and
                    (C) registered on page 588 of book 48 of the record 
                of deeds for Chester County, Tennessee.

SEC. 4. SALE OF MINERAL RIGHTS.

    (a) In General.--Subject to any valid existing rights of third 
parties, as soon as practicable after the date on which the Secretary 
determines that the State has complied with the requirements of 
subsection (b)(2), the Secretary shall convey to the State the 
undivided mineral interests of the United States in and to the State 
forest land.
    (b) Terms of Conveyance.--
            (1) In general.--Not later than 90 days after the date of 
        enactment of this Act, the Secretary shall determine--
                    (A) the mineral character of the State forest land; 
                and
                    (B) the fair market value of the mineral interests 
                referred to in subsection (a).
            (2) Payment of costs.--As a condition of the conveyance 
        under subsection (a), the State shall pay to the United 
        States--
                    (A) any administrative costs incurred by the United 
                States in conveying to the State the mineral interests 
                referred to in subsection (a), including the costs 
                incurred by the Secretary in making the determinations 
                required under paragraph (1); and
                    (B) an amount equal to the fair market value of the 
                mineral interests referred to in subsection (a), as 
                determined under paragraph (1)(B).
                                 <all>