42 U.S.C. § 7274l: Authority to transfer…

Summary

The Secretary of Energy can transfer federal property at a DOE site that is being closed or changed to another person if the transfer will help reduce the harmful economic effects of the closure. The United States can get less than fair market value for the property if the Secretary thinks that is appropriate. The Secretary may add terms to protect the government’s interests. Covered property: "excess property" — personal items and equipment the Department no longer needs; "low‑move‑cost property" — items whose replacement cost is not more than 110 percent of the cost to move them.

Title 42, §7274l

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(a)Authority to transfer

(1)Notwithstanding any other provision of law, the Secretary of Energy may transfer, for consideration, all right, title, and interest of the United States in and to the property referred to in subsection (b) to any person if the Secretary determines that such transfer will mitigate the adverse economic consequences that might otherwise arise from the closure of a Department of Energy facility.

(2)The amount of consideration received by the United States for a transfer under paragraph (1) may be less than the fair market value of the property transferred if the Secretary determines that the receipt of such lesser amount by the United States is in accordance with the purpose of such transfer under this section.

(3)The Secretary may require any additional terms and conditions with respect to a transfer of property under paragraph (1) that the Secretary determines appropriate to protect the interests of the United States.

(b)Covered property

Property referred to in subsection (a) is the following property of the Department of Energy that is located at a Department of Energy facility to be closed or reconfigured:

(1)The personal property and equipment at the facility that the Secretary determines to be excess to the needs of the Department of Energy.

(2)Any personal property and equipment at the facility (other than the property and equipment referred to in paragraph (1)) the replacement cost of which does not exceed an amount equal to 110 percent of the costs of relocating the property or equipment to another facility of the Department of Energy.

Editorial Notes

Codification Section was enacted as part of the National Defense Authorization Act for Fiscal Year 1994, and not as part of the Department of Energy Organization Act which comprises this chapter.

§7274l Authority to Transfer Certain Department of Energy Property

Summary

Title 42, §7274l

Notes & Related Subsidiaries

Editorial Notes

Citations & Metadata