ECONOMIC DEVELOPMENT CONVEYANCES OF BASE CLOSURE PROPERTY.

SEC. 2821. ECONOMIC DEVELOPMENT CONVEYANCES OF BASE CLOSURE PROPERTY. (a) 1990 Law.—Section 2905(b)(4) of the Defense Base Closure and Realignment Act of 1990 (part A of title XXIX of Public Law 101–510; 10 U.S.C. 2687 note) is amended— (1) in subparagraph (A)— (A) by inserting “or realigned” after “closed”; and (B) by inserting “for purposes of job generation on the installation” before the period at the end; (2) by redesignating subparagraphs (C), (D), (E), and (F) as subparagraphs (E), (F), (G), and (J), respectively; (3) by striking subparagraph (B) and inserting the following new subparagraphs: “(B) The transfer of property of a military installation under subparagraph (A) shall be without consideration if the redevelopment authority with respect to the installation— “(i) agrees that the proceeds from any sale or lease of the property (or any portion thereof) received by the redevelopment authority during at least the first seven years after the date of the transfer under subparagraph (A) shall be used to support the economic redevelopment of, or related to, the installation; and “(ii) executes the agreement for transfer of the property and accepts control of the property within a reasonable time after the date of the property disposal record of decision or finding of no significant impact under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.). “(C) For purposes of subparagraph (B), the use of proceeds from a sale or lease described in such subparagraph to pay for, or offset the costs of, public investment on or related to the installation for any of the following purposes shall be considered a use to support the economic redevelopment of, or related to, the installation: “(i) Road construction. “(ii) Transportation management facilities. “(iii) Storm and sanitary sewer construction. “(iv) Police and fire protection facilities and other public facilities. “(v) Utility construction. “(vi) Building rehabilitation. “(vii) Historic property preservation. “(viii) Pollution prevention equipment or facilities. “(ix) Demolition. “(x) Disposal of hazardous materials generated by demolition. “(xi) Landscaping, grading, and other site or public improvements.113 STAT. 854 “(xii) Planning for or the marketing of the development and reuse of the installation. “(D) The Secretary may recoup from a redevelopment authority such portion of the proceeds from a sale or lease described in subparagraph (B) as the Secretary determines appropriate if the redevelopment authority does not use the proceeds to support economic redevelopment of, or related to, the installation for the period specified in subparagraph (B).”; (4) in subparagraph (F), as redesignated by paragraph (2)— (A) by striking “(i)”; and (B) by striking clause (ii); and (5) by inserting after subparagraph (F), as so redesignated, the following new subparagraphs: “(H)(i) In the case of an agreement for the transfer of property of a military installation under this paragraph that was entered into before April 21, 1999, the Secretary may modify the agreement, and in so doing compromise, waive, adjust, release, or reduce any right, title, claim, lien, or demand of the United States, if— “(I) the Secretary determines that as a result of changed economic circumstances, a modification of the agreement is necessary; “(II) the terms of the modification do not require the return of any payments that have been made to the Secretary; “(III) the terms of the modification do not compromise, waive, adjust, release, or reduce any right, title, claim, lien, or demand of the United States with respect to in-kind consideration; and “(IV) the cash consideration to which the United States is entitled under the modified agreement, when combined with the cash consideration to be received by the United States for the disposal of other real property assets on the installation, are as sufficient as they were under the original agreement to fund the reserve account established under section 204(b)(7)(C) of the Defense Authorization Amendments and Base Closure and Realignment Act, with the depreciated value of the investment made with commissary store funds or nonappropriated funds in property disposed of pursuant to the agreement being modified, in accordance with section 2906(d). “(ii) When exercising the authority granted by clause (i), the Secretary may waive some or all future payments if, and to the extent that, the Secretary determines such waiver is necessary, “(iii) With the exception of the requirement that the transfer be without consideration, the requirements of subparagraphs (B), (C), and (D) shall be applicable to any agreement modified pursuant to clause (i). “(I) In the case of an agreement for the transfer of property of a military installation under this paragraph that was entered into during the period beginning on April 21, 1999, and ending on the date of enactment of the National Defense Authorization Act for Fiscal Year 2000, at the request of the redevelopment authority concerned, the Secretary shall modify the agreement to conform to all the requirements of subparagraphs (B), (C), and (D). Such a modification may include the compromise, waiver, adjustment, release, or reduction of any right, title, claim, lien, or demand of the United States under the agreement.”.113 STAT. 855 (b) 1988 Law.—Section 204(b)(4) of the Defense Authorization Amendments and Base Closure and Realignment Act (Public Law 100–526; 10 U.S.C. 2687 note) is amended— (1) in subparagraph (A)— (A) by inserting “or realigned” after “closed”; and (B) by inserting “for purposes of job generation on the installation” before the period at the end; (2) by redesignating subparagraphs (C), (D), and (E) as subparagraphs (E), (F), and (I), respectively; (3) by striking subparagraph (B) and inserting the following new subparagraphs: “(B) The transfer of property of a military installation under subparagraph (A) shall be without consideration if the redevelopment authority with respect to the installation— “(i) agrees that the proceeds from any sale or lease of the property (or any portion thereof) received by the redevelopment authority during at least the first seven years after the date of the transfer under subparagraph (A) shall be used to support the economic redevelopment of, or related to, the installation; and “(ii) executes the agreement for transfer of the property and accepts control of the property within a reasonable time after the date of the property disposal record of decision or finding of no significant impact under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.). “(C) For purposes of subparagraph (B), the use of proceeds from a sale or lease described in such subparagraph to pay for, or offset the costs of, public investment on or related to the installation for any of the following purposes shall be considered a use to support the economic redevelopment of, or related to, the installation: “(i) Road construction. “(ii) Transportation management facilities. “(iii) Storm and sanitary sewer construction. “(iv) Police and fire protection facilities and other public facilities. “(v) Utility construction. “(vi) Building rehabilitation. “(vii) Historic property preservation. “(viii) Pollution prevention equipment or facilities. “(ix) Demolition. “(x) Disposal of hazardous materials generated by demolition. “(xi) Landscaping, grading, and other site or public improvements. “(xii) Planning for or the marketing of the development and reuse of the installation. “(D) The Secretary may recoup from a redevelopment authority such portion of the proceeds from a sale or lease described in subparagraph (B) as the Secretary determines appropriate if the redevelopment authority does not use the proceeds to support economic redevelopment of, or related to, the installation for the period specified in subparagraph (B).”; (4) in subparagraph (E), as redesignated by paragraph (2)— (A) by striking “(i)”; and (B) by striking clause (ii); and113 STAT. 856 (5) by inserting after subparagraph (F) the following new subparagraphs: “(G)(i) In the case of an agreement for the transfer of property of a military installation under this paragraph that was entered into before April 21, 1999, the Secretary may modify the agreement, and in so doing compromise, waive, adjust, release, or reduce any right, title, claim, lien, or demand of the United States, if— “(I) the Secretary determines that as a result of changed economic circumstances, a modification of the agreement is necessary; “(II) the terms of the modification do not require the return of any payments that have been made to the Secretary; “(III) the terms of the modification do not compromise, waive, adjust, release, or reduce any right, title, claim, lien, or demand of the United States with respect to in-kind consideration; and “(IV) the cash consideration to which the United States is entitled under the modified agreement, when combined with the cash consideration to be received by the United States for the disposal of other real property assets on the installation, are as sufficient as they were under the original agreement to fund the reserve account established under paragraph (7)(C), with the depreciated value of the investment made with commissary store funds or nonappropriated funds in property disposed of pursuant to the agreement being modified, in accordance with section 2906(d) of the Defense Base Closure and Realignment Act of 1990. “(ii) When exercising the authority granted by clause (i), the Secretary may waive some or all future payments if, and to the extent that, the Secretary determines such waiver is necessary. “(iii) With the exception of the requirement that the transfer be without consideration, the requirements of subparagraphs (B), (C), and (D) shall be applicable to any agreement modified pursuant to clause (i). “(H) In the case of an agreement for the transfer of property of a military installation under this paragraph that was entered into during the period beginning on April 21, 1999, and ending on the date of enactment of the National Defense Authorization Act for Fiscal Year 2000, at the request of the redevelopment authority concerned, the Secretary shall modify the agreement to conform to all the requirements of subparagraphs (B), (C), and (D). Such a modification may include the compromise, waiver, adjustment, release, or reduction of any right, title, claim, lien, or demand of the United States under the agreement.”.