16 U.S.C. § 406d–3: Compensation for tax…

Summary

Pay Wyoming for property-tax losses when the U.S. acquired private land inside Grand Teton after March 15, 1943. The Interior Secretary figures amounts; the Treasury pays Wyoming, which passes it to the county. For the acquisition year and the next nine years, Wyoming gets the last annual property tax amount for the property, minus any tax already paid that year as determined by the Interior Secretary. After that, up to twenty years total, payments drop 5% each year. Payments for years before the first full fiscal year after September 14, 1950, are held until that fiscal year ends. No yearly payment may exceed 25% of that year's visitor fees from Grand Teton and Yellowstone.

Title 16, §406d–3

Conservation, Source: USLM XML via OLRC

(a)In order to provide compensation for tax losses sustained as a result of any acquisition by the United States, subsequent to March 15, 1943, of privately owned lands, together with any improvements thereon, located within the exterior boundary of the Grand Teton National Park established by this Act, payments shall be made to the State of Wyoming for distribution to the county in which such lands are located in accordance with the following schedule of payments: For the fiscal year in which the land has been or may be acquired and nine years thereafter there shall be paid an amount equal to the full amount of annual taxes last assessed and levied on the land, together with any improvements thereon, by public taxing units in such county, less any amount, to be determined by the Secretary of the Interior, which may have been paid on account of taxes for any period falling within such fiscal year. For each succeeding fiscal year, until twenty years elapse, there shall be paid on account of such land an amount equal to the full amount of taxes referred to in the preceding sentence, less 5 per centum of such full amount for each fiscal year, including the year for which the payment is to be made: Provided, That the amount payable under the foregoing schedule for any fiscal year preceding the first full fiscal year following September 14, 1950, shall not become payable until the end of such first full fiscal year.

(b)As soon as practicable after the end of each fiscal year, the amount then due for such fiscal year shall be computed and certified by the Secretary of the Interior, and shall be paid by the Secretary of the Treasury: Provided, That such amount shall not exceed 25 per centum of the fees collected during such fiscal year from visitors to the Grand Teton National Park established by this Act, and the Yellowstone National Park. Payments made to the State of Wyoming under this section shall be distributed to the county where the lands acquired from private landowners are located and in such manner as the State of Wyoming may prescribe.

Notes & Related Subsidiaries

Editorial Notes

References in Text

This Act, referred to in text, is act Sept. 14, 1950, ch. 950, 64 Stat. 849, which enacted this section, section 406d–1, 406d–2, 406d–4, 406d–5, 431a, 451a, 482m, 673b, and 673c of this title, and provisions set out as notes under section 406d–1 of this title. section 1 of the Act was partially repealed and restated as section 104907 and 320301(d) of Title 54, National Park Service and Related Programs, by Pub. L. 113–287, §§ 3, 7, Dec. 19, 2014, 128 Stat. 3094, 3272. For complete classification of this Act to the Code, see Tables.

Statutory Notes and Related Subsidiaries

Repeal of Inconsistent LawsRepeal of laws inconsistent with act Sept. 14, 1950, see note set out under section 406d–1 of this title.

§406d–3 Compensation for Tax Losses; Limitation on Annual Amount