To authorize the Secretary of Transportation to release restrictions on the use of certain property conveyed to the City of St. George, Utah, for airport purposes.

SA 3462. Mr. BENNETT (for himself and Mr. Hatch) submitted an
amendment intended to be proposed by him to the bill H.R. 1586, to
impose an additional tax on bonuses received from certain TARP
recipients; which was ordered to lie on the table; as follows:

At the appropriate place, insert the following:

SEC. __. RELEASE FROM RESTRICTIONS.

(a) In General.--Subject to subsection (b), and
notwithstanding section 16 of the Federal Airport Act (as in
effect on August 28, 1973) and sections 47125 and 47153 of
title 49, United States Code, the Secretary of Transportation
is authorized to grant releases from any of the terms,
conditions, reservations, and restrictions contained in the
deed of conveyance dated August 28, 1973, under which the
United States conveyed certain property to the city of St.
George, Utah, for airport purposes.
(b) Condition.--Any release granted by the Secretary of
Transportation pursuant to subsection (a) shall be subject to
the following conditions:
(1) The city of St. George, Utah, shall agree that in
conveying any interest in the property which the United
States conveyed to the city by deed on August 28, 1973, the
city will receive an amount for such interest which is equal
to its fair market value.
(2) Any amount received by the city under paragraph (1)
shall be used by the city of St. George, Utah, for the
development or improvement of a replacement public airport.
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