Summary: H.R.4423 — 113th Congress (2013-2014)All Information (Except Text)

There is one summary for H.R.4423. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (04/08/2014)

Acre in, Acre Out Act - Prescribes a new requirement for the acquisition of land by the Secretary of the Interior or the Secretary of Agriculture (USDA) that would result in a net increase of total land acreage under the jurisdiction of the National Park Service, the U.S. Fish and Wildlife Service, the Bureau of Land Management (BLM), or the Forest Service. Requires the Secretary concerned to offer for sale an equal number of acres of federal land that is under the same jurisdictional status.

Exempts from this requirement any easements acquired to facilitate management of federal lands.

Requires land sold pursuant to this Act to be offered for sale: (1) at fair market value (based on local comparable sales); and (2) at a price reduced by 10% each month if the land is not sold or under contract six months after it was first offered for sale.

Declares that time periods during which such land is under contract or withdrawn from the market shall not be counted for price reduction purposes.

Requires all net proceeds from the sale of federal lands pursuant to this Act to be deposited directly into the Treasury for reduction of the public debt.