Bill summaries are authored by CRS.

Shown Here:
Reported to Senate without amendment (11/14/2012)

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Authorizes the Secretary of Commerce to convey to a nonfederal entity specified real property, including improvements, located at 1010 Stedman Street in Ketchikan, Alaska, under the administrative jurisdiction of the National Oceanic and Atmospheric Administration (NOAA), provided that the United States receive consideration of at least fair market value of the property or rights conveyed. Specifies acceptable forms of property, cash, and in-kind consideration.

Directs the Secretary to determine fair market value based on a highest- and best-use appraisal in conformance with the Uniform Appraisal Standards for Professional Appraisal Practice.

Directs that any proceeds the United States receives as such consideration be available to the Secretary, subject to appropriation, for the acquisition, through lease or by purchase of real property, and associated design and construction of a new port facility in the Ketchikan Gateway Borough, Alaska, that is under the administrative jurisdiction of the Under Secretary for Oceans and Atmosphere.

Requires the exact acreage and legal description of any property so conveyed to be determined by a survey satisfactory to the Secretary. Requires the Secretary to bear the cost of such survey.

Permits the Secretary, as appropriate to protect the interest of the United States, to: (1) exchange all or any portion of the real property, and (2) require additional terms and conditions with any such conveyance.