S.Amdt. 1548

1. Adds SEC. 2707. USE OF ECONOMIC DEVELOPMENT CONVEYANCES TO IMPLEMENT BASE CLOSURE AND REALIGNMENT PROPERTY RECOMMENDATIONS on page 553, between lines 15 and 16

   Adds a sectionPrinted page

   Inserted: SEC. 2707. USE OF ECONOMIC DEVELOPMENT CONVEYANCES TO IMPLEMENT BASE CLOSURE AND REALIGNMENT PROPERTY RECOMMENDATIONS.

   Inserted: (a) Economic Redevelopment Conveyance Authority.--Subsection (b)(4) of section 2905 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--

   Inserted: (1) in subparagraph (A), by striking "job generation" and inserting "economic redevelopment";

   Inserted: (2) by striking subparagraph (B) and inserting the following new subparagraph:

   Inserted: "(B) Real or personal property at a military installation shall be conveyed, without consideration, under subparagraph (A) to the redevelopment authority with respect to the installation if the authority--

   Inserted: "(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 initial transfer of the property under subparagraph (A) or the completion of the initial redevelopment of the property, whichever is earlier, shall be used to support the economic redevelopment of, or related to, the installation; and

   Inserted: "(ii) executes the agreement for transfer of the property and accepts control of the property within a reasonable time after the requirements associated with subsection (c) are satisfied."; and

   Inserted: (3) in subparagraph (C), by adding at the end the following new clause:

   Inserted: "(xiii) Environmental restoration, waste management, and environmental compliance activities provided pursuant to subsection (e).".

   Inserted: (b) Recoupment Authority.--Subsection (b)(4)(D) of such section is amended--

   Inserted: (1) by striking "The Secretary" and inserting "At the conclusion of the period specified in subparagraph (B) applicable to an installation, the Secretary"; and

   Inserted: (2) by striking "for the period specified in subparagraph (B)" and inserting "before the conclusion of such period".

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   Inserted: (c) Regulations and Report Concerning Property Conveyances.--

   Inserted: (1) Regulations.--Not later than 60 days after the date of the enactment of this Act, the Secretary of Defense shall prescribe regulations to implement the amendments made by this section to support the conveyance of surplus real and personal property at closed or realigned military installations to local redevelopment authorities for economic development purposes.

   Inserted: (2) Report.--Not later than 180 days after the date of the enactment of this Act, the Secretary of Defense shall submit to Congress a report regarding the status of current and anticipated economic development conveyances involving surplus real and personal property at closed or realigned military installations, projected job creation as a result of the conveyances, community reinvestment, and progress made as a result of the implementation of the amendments made by this section.

   Original wording

   On page 553, between lines 15 and 16, insert the following:

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As printed