RESIDUAL VALUE OF OVERSEAS INSTALLATIONS BEING CLOSED.

SEC. 2924. RESIDUAL VALUE OF OVERSEAS INSTALLATIONS BEING CLOSED. (a) Annual Reports.—Section 1304(a) of the National Defense Authorization Act for Fiscal Year 1993 (Public Law 102–484; 10 U.S.C. 113 note) is amended— (1) in paragraph (1), by inserting “by installation” after “basing plan”; (2) by striking out paragraph (3) and inserting in lieu thereof the following: “(3) both— “(A) the status of negotiations, if any, between the United States and the host government as to (i) United States claims for compensation for the fair market value of the improvements made by the United States at each installation referred to in paragraph (2), and (ii) any claims of the host government for damages or restoration of the installation; and “(B) the representative of the United States in any such negotiations;”; (3) by redesignating paragraph (6) as paragraph (7); and (4) by striking out paragraph (5) and inserting in lieu thereof the following new paragraphs (5) and (6): “(5) the cost to the United States of any improvements made at each installation referred to in paragraph (2) and the fair market value of such improvements, expressed in constant dollars based on the date of completion of the improvements; “(6) in each case in which negotiations between the United States and a host government have resulted in an agreement for the payment to the United States by the host government of the value of improvements to an installation made by the United States, the amount of such payment, the form of such payment, and the expected date of such payment; and”. (b) OMB Review of Proposed Settlements.—Section 2921 of the National Defense Authorization Act for Fiscal Year 1991 (Public Law 101–510; 10 U.S.C. 2687 note) is amended by adding at the end the following: “(g) OMB Review of Proposed Settlements.—The Secretary of Defense may not enter into an agreement of settlement with a host country regarding the release to the host country of improvements made by the United States to facilities at an installation located in the host country until 30 days after the date on which the Secretary submits the proposed settlement to the Director of the Office of Management and Budget. The Director shall evaluate the overall equity of the proposed settlement. In evaluating the proposed settlement, the Director shall consider such factors as the extent of the United States capital investment in the improvements being released to the host country, the depreciation of the 107 STAT. 1932improvements, the condition of the improvements, and any applicable requirements for environmental remediation or restoration at the installation.”.