This bill releases certain reversionary interest in land to Tennessee.
Upon the transfer of ownership of the approximately 0.90-acre parcel of land identified as the Webb property to Tennessee for inclusion in the Chickasaw State Forest and the transfer of the approximately 0.62-acre parcel of land identified as state forest land to Tennessee or a non-state entity, the Department of Agriculture (USDA) shall release to Tennessee the reversionary interest of the United States in the state forest land that requires the land to be used for public purposes.
After such actions, USDA shall offer to sell to Tennessee the undivided mineral interests of the United States in the state forest land.
To release a Federal reversionary interest in Chester County, 
                   Tennessee, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. CHESTER COUNTY REVERSIONARY INTEREST RELEASE.

    (a) Definitions.--In this section:
            (1) Secretary.--The term ``Secretary'' means the Secretary 
        of Agriculture.
            (2) State.--The term ``State'' means the State of 
        Tennessee.
            (3) State forest land.--The term ``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 December 13, 2019.
            (4) Webb property.--The term ``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 entitled 
        ``Webb Property Detail Map'' and dated December 13, 2019.
    (b) Release of Reversionary Interest.--
            (1) Release.--On the transfer of ownership of the Webb 
        property to the State for inclusion in the Chickasaw State 
        Forest and the transfer of the State forest land to the State 
        or a non-State entity, by request of the State, the Secretary 
        shall release to the State, without consideration, the 
        reversionary interest of the United States in and to the State 
        forest land described in paragraph (2).
            (2) Description of reversionary interest.--The reversionary 
        interest referred to in paragraph (1) is the reversionary 
        interest of the United States in and to the State forest land 
        that--
                    (A) requires that the State forest land be used for 
                public purposes; and
                    (B) is contained in a deed--
                            (i) granting from the United States to the 
                        State the State forest land;
                            (ii) dated August 12, 1955; and
                            (iii) registered on pages 588 through 591 
                        of book 48 of the record of deeds for Chester 
                        County, Tennessee.
    (c) Sale of Mineral Rights.--
            (1) In general.--Subject to any valid existing rights of 
        third parties, as soon as practicable after the date on which 
        all actions described in subsection (b)(1) have been carried 
        out, the Secretary shall offer to sell to the State the 
        undivided mineral interests of the United States in and to the 
        State forest land.
            (2) Terms of sale.--
                    (A) In general.--Not later than 180 days after the 
                date of enactment of this Act, the Secretary shall 
                determine--
                            (i) the mineral character of the State 
                        forest land; and
                            (ii) the market value of the mineral 
                        interests referred to in paragraph (1), as 
                        determined by an appraisal conducted in 
                        accordance with subparagraph (C).
                    (B) Payment of costs.--As a condition of any sale 
                under this subsection, the State shall pay to the 
                United States--
                            (i) any administrative costs incurred by 
                        the United States in selling to the State the 
                        mineral interests referred to in paragraph (1), 
                        including the costs incurred by the Secretary 
                        in making the determinations required under 
                        subparagraph (A); and
                            (ii) an amount equal to the market value of 
                        the mineral interests referred to in paragraph 
                        (1), as determined under subparagraph (A)(ii).
                    (C) Appraisal requirements.--An appraisal conducted 
                under subparagraph (A)(ii) shall be--
                            (i) consistent with the Uniform Appraisal 
                        Standards for Federal Land Acquisitions and the 
                        Uniform Standards of Professional Appraisal 
                        Practice; and
                            (ii) subject to the approval of the 
                        Secretary.
                                 <all>
A bill to release a Federal reversionary interest in Chester County, Tennessee, and for other purposes.
A bill to release a Federal reversionary interest in Chester County, Tennessee, and for other purposes.
Official Titles - Senate
Official Title as Introduced
A bill to release a Federal reversionary interest in Chester County, Tennessee, and for other purposes.
Sen. Blackburn, Marsha