Title: Embry-Riddle Tri-City Land Exchange Completion Act of 2019
Policy area: Education

Summary:
Embry-Riddle Tri-City Land Exchange Completion Act of 2019
This bill requires the Department of Interior to relinquish its reversionary interest in a 16-acre parcel of land that is located in Yavapai County, Arizona, and owned by the Embry-Riddle Aeronautical University.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 244 Introduced in Senate (IS)]

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116th CONGRESS
  1st Session
                                 S. 244

To provide for the unencumbering of title to non-Federal land owned by 
Embry-Riddle Aeronautical University, Florida, for purposes of economic 
 development by conveyance of the Federal reversionary interest to the 
                              University.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 28, 2019

  Ms. McSally introduced the following bill; which was read twice and 
       referred to the Committee on Energy and Natural Resources

_______________________________________________________________________

                                 A BILL


 
To provide for the unencumbering of title to non-Federal land owned by 
Embry-Riddle Aeronautical University, Florida, for purposes of economic 
 development by conveyance of the Federal reversionary interest to the 
                              University.

    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 ``Embry-Riddle Tri-City Land Exchange 
Completion Act of 2019''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Non-federal land.--The term ``non-Federal land'' means 
        the approximately 16-acre parcel of University land identified 
        in section 3(a) of Public Law 105-363 (112 Stat. 3297).
            (2) Secretary.--The term ``Secretary'' means the Secretary 
        of the Interior.
            (3) University.--The term ``University'' means Embry-Riddle 
        Aeronautical University, Florida.

SEC. 3. CONVEYANCE OF FEDERAL REVERSIONARY INTEREST IN LAND LOCATED IN 
              YAVAPAI COUNTY, ARIZONA.

    (a) Conveyance.--
            (1) In general.--Notwithstanding any other provision of 
        law, if after the completion of the appraisal required under 
        subsection (b), the University submits to the Secretary an 
        offer to acquire the reversionary interests of the United 
        States in and to the non-Federal land, the Secretary shall 
        convey to the University the reversionary interests of the 
        United States in and to the non-Federal land for the purpose of 
        unencumbering the title to the non-Federal land to enable 
        economic development of the non-Federal land.
            (2) Legal descriptions.--As soon as practicable after the 
        date of enactment of this Act, the exact legal description of 
        the non-Federal land shall be determined in a manner 
        satisfactory to the Secretary.
            (3) Additional terms and conditions.--The Secretary may 
        require such additional terms and conditions to the conveyance 
        under paragraph (1), consistent with this Act, as the Secretary 
        considers appropriate to protect the interests of the United 
        States.
            (4) Costs.--The University shall pay all costs associated 
        with the conveyance under paragraph (1), including the costs of 
        the appraisal required under subsection (b), the costs of any 
        surveys, recording costs, and other reasonable costs.
    (b) Appraisal.--
            (1) In general.--Not later than 180 days after the date of 
        enactment of this Act, the Secretary shall complete an 
        appraisal of the reversionary interests of the United States in 
        and to the non-Federal land.
            (2) Applicable law.--The appraisal under paragraph (1) 
        shall be completed in accordance with--
                    (A) the Uniform Appraisal Standards for Federal 
                Land Acquisitions; and
                    (B) the Uniform Standards of Professional Appraisal 
                Practice.
    (c) Consideration.--
            (1) In general.--As consideration for the conveyance of the 
        reversionary interests of the United States in and to the non-
        Federal land under this Act, the University shall pay to the 
        Secretary an amount equal to the appraised value of the 
        interests of the United States, as determined under subsection 
        (b).
            (2) Deposit; use.--Amounts received under paragraph (1) 
        shall be--
                    (A) deposited in the Federal Land Disposal Account 
                established by section 206(a) of the Federal Land 
                Transaction Facilitation Act (43 U.S.C. 2305(a)); and
                    (B) used in accordance with that Act (43 U.S.C. 
                2301 et seq.).
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