IMPLEMENTATION OF CLOSURE AND REALIGNMENT DECISIONS.

SEC. 3006. IMPLEMENTATION OF CLOSURE AND REALIGNMENT DECISIONS. (a) Requirement To Receive Fair Market Value.—Section 2905(b)(4)(B) of that Act is amended— (1) in the first sentence, by striking “shall be without consideration” in the matter preceding clause (i) and inserting “may be without consideration”; and (2) by inserting after “(B)” the following new sentence: “With respect to military installations for which the date of approval of closure or realignment is after January 1, 2005, the Secretary shall seek to obtain consideration in connection with any transfer under this paragraph of property located 115 STAT. 1351at the installation in an amount equal to the fair market value of the property, as determined by the Secretary.”. (b) Transfers in Connection With Payment of Environmental Remediation.—Section 2905(e) of that Act is amended— (1) in paragraph (1)(B), by adding at the end the following new sentence: “The real property and facilities referred to in subparagraph (A) are also the real property and facilities located at an installation approved for closure or realignment under this part after 2001 that are available for purposes other than to assist the homeless.”; (2) in paragraph (2)(A), by striking “to be paid by the recipient of the property or facilities” and inserting “otherwise to be paid by the Secretary with respect to the property or facilities”; (3) by striking paragraph (6); (4) by redesignating paragraphs (3), (4), and (5) as paragraphs (4), (5), and (6), respectively; and (5) by inserting after paragraph (2) the following new paragraph (3): “(3) In the case of property or facilities covered by a certification under paragraph (2)(A), the Secretary may pay the recipient of such property or facilities an amount equal to the lesser of— “(A) the amount by which the costs incurred by the recipient of such property or facilities for all environmental restoration, waste, management, and environmental compliance activities with respect to such property or facilities exceed the fair market value of such property or facilities as specified in such certification; or “(B) the amount by which the costs (as determined by the Secretary) that would otherwise have been incurred by the Secretary for such restoration, management, and activities with respect to such property or facilities exceed the fair market value of such property or facilities as so specified”. (c) Scope of Indemnification of Transferees in Connection With Payment of Environmental Remediation.—Paragraph (6) of section 2905(e) of that Act, as redesignated by subsection (b)(4), is amended by inserting before the period the following: “, except in the case of releases or threatened releases not disclosed pursuant to paragraph (4)”.