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Current as of January 01, 2024 | Updated by Findlaw Staff
(a)Authority to lease or exchange.--Notwithstanding any other provision of law, each Federal agency, after consultation with the Council--
(1) shall, to the extent practicable, establish and implement alternatives (including adaptive use) for historic property that is not needed for current or projected agency purposes; and
(2) may lease historic property owned by the agency to any person or organization, or exchange any property owned by the agency with comparable historic property, if the agency head determines that the lease or exchange will adequately ensure the preservation of the historic property.
(b)Proceeds of lease.--Notwithstanding any other provision of law, the proceeds of a lease under subsection (a) may be retained by the agency entering into the lease and used to defray the costs of administration, maintenance, repair, and related expenses incurred by the agency with respect to that property or other property that is on the National Register that is owned by, or are under the jurisdiction or control of, the agency. Any surplus proceeds from the leases shall be deposited in the Treasury at the end of the 2d fiscal year following the fiscal year in which the proceeds are received.
Cite this article: FindLaw.com - 54 U.S.C. § 306121 - U.S. Code - Unannotated Title 54. National Park Service and Related Programs § 306121. Lease or exchange - last updated January 01, 2024 | https://codes.findlaw.com/us/title-54-national-park-service-and-related-programs/54-usc-sect-306121/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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