Page:United States Statutes at Large Volume 108 Part 5.djvu/280

 108 STAT. 3770 PUBLIC LAW 103-382—OCT. 20, 1994 equipment is considered a current expenditure or a capital outlay shall be determined in accordance with generally accepted accounting principles as determined by the State. "(5) FEDERAL PROPERTY. — "(A) IN GENERAL.— Except as provided in subparagraphs (B) through (F), the term 'Federal property' means real property that is not subject to taxation by any State or any political subdivision of a State due to Federal agreement, law, or policy, and that is— "(i) owned by the United States or leased by the United States from another entity; "(ii)(I) held in trust by the United States for individual Indians or Indian tribes; "(11) held by individual Indians or Indian tribes subject to restrictions on alienation imposed by the United States; "(III) conveyed at any time under the Alaska Native Claims Settlement Act to a Native individual. Native group, or village or regional corporation; "(IV) public land owned by the United States that is designated for the sole use and benefit of individual Indians or Indian tribes; or "(V) used for low-rent housing, as described in paragraph (10), that is located on land described in subclause (I), (II), (III), or (IV) of this clause or on land that met one of those descriptions immediately before such property's use for such housing; "(iii)(I) part of a low-rent housing project assisted under the United States Housing Act of 1937; or "(II) used to provide housing for homeless children at closed military installations pursuant to section 501 of the Stewart B. McKinney Homeless Assistance Act; or "(iv) owned by a foreign government or by an inter- -f national organization. "(B) SCHOOLS PROVIDING FLIGHT TRAINING TO MEMBERS OF AIR FORCE. — The term 'Federal property' includes, so Ui long as not subject to taxation by any State or any political subdivision of a State, and whether or not that tax exemption is due to Federal agreement, law, or policy, any school providing flight training to members of the Air Force under contract with the Air Force at an airport owned by a State or political subdivision of a State. "(C) NON-FEDERAL EASEMENTS, LEASES, LICENSES, PER- MITS, IMPROVEMENTS, AND CERTAIN OTHER REAL PROP- ERTY. — The term 'Federal property* includes, whether or not subject to taxation by a State or a political subdivision of a State— "(i) any non-Federal easement, lease, license, permit, or other such interest in Federal property as otherwise described in this paragraph, but not including any non-Federal fee-simple interest; "(ii) any improvement on Federal property as otherwise described in this paragraph; and "(iii) real property that, immediately before its sale .. - > or transfer to a non-Federal party, was owned by the United States and otherwise qualified as Federal prop-

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