IN THE SENATE OF THE UNITED STATES
March 4, 2019
Mrs. Blackburn (for herself and Mr. Alexander) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry
To direct the Secretary of Agriculture to release certain reversionary interests of the United States in and to a parcel of land located in Henderson, Tennessee.
This Act may be cited as the
Chester County Reversionary Interest Release Act.
In this Act:
Secretary means the Secretary of Agriculture.
State means the State of Tennessee.
State forest land
State forest land means the approximately 0.62-acre parcel of land in Chickasaw State Forest that is identified as
State Forest Land on the map prepared by the Forest Service entitled
State Forest Land Detail Map and dated October 9, 2018.
Webb property means the approximately 0.90-acre parcel of land owned by Kirby and Leta Webb identified as
Webb Property Lot 1 on the map prepared by the Tennessee Division of Forestry entitled
Webb Property Detail Map and dated October 9, 2018.
Release of reversionary interest
To facilitate an exchange of land between the Bethel Baptist Church in Henderson, Tennessee, and the State, the Secretary shall release the reversionary interest of the United States in and to the State forest land described in subsection (b) if, as consideration for the release, the State agrees to transfer to the United States a vested future interest in and to the Webb property that is similar to the reversionary interest described in subsection (b).
Description of reversionary interest
The reversionary interest referred to in subsection (a) is the reversionary interest of the United States in and to the State forest land that—
requires that the State forest land be used for public purposes; and
is contained in a deed—
granting from the United States to the State the State forest land;
dated August 12, 1955; and
registered on page 588 of book 48 of the record of deeds for Chester County, Tennessee.
Sale of mineral rights
Subject to any valid existing rights of third parties, as soon as practicable after the date on which the Secretary determines that the State has complied with the requirements of subsection (b)(2), the Secretary shall convey to the State the undivided mineral interests of the United States in and to the State forest land.
Terms of conveyance
Not later than 90 days after the date of enactment of this Act, the Secretary shall determine—
the mineral character of the State forest land; and
the fair market value of the mineral interests referred to in subsection (a).
Payment of costs
As a condition of the conveyance under subsection (a), the State shall pay to the United States—
any administrative costs incurred by the United States in conveying to the State the mineral interests referred to in subsection (a), including the costs incurred by the Secretary in making the determinations required under paragraph (1); and
an amount equal to the fair market value of the mineral interests referred to in subsection (a), as determined under paragraph (1)(B).