Page:United States Statutes at Large Volume 118.djvu/2157

 118 STAT. 2127 PUBLIC LAW 108–375—OCT. 28, 2004 agreement made, only after the end of the 30 day period beginning on the date the report is received by the congressional defense committees or, if earlier, the end of the 21 day period beginning on the date on which a copy of the report is provided in an electronic medium pursuant to section 480 of this title. ‘‘(3) Section 2662 of this title shall not apply to an exchange carried out using the authority provided by this section. ‘‘(g) RELATION TO OTHER MILITARY CONSTRUCTION REQUIRE MENTS.—The acquisition of a facility, or an addition to an existing facility, using the authority provided by this section shall not be treated as a military construction project for which an authorization is required by section 2802 of this title.’’. (2) The table of sections at the beginning of such chapter is amended by adding at the end the following new item: ‘‘18240. Acquisition of facilities by exchange.’’. (b) CONFORMING AMENDMENT.—Section 18233(f)(2) of such title is amended by striking ‘‘gift, exchange of Government owned land, or otherwise’’ and inserting ‘‘or gift’’. (c) TEMPORARY AUTHORITY TO INCLUDE CASH EQUALIZATION PAYMENTS IN EXCHANGE.—(1) Notwithstanding subsection (c) of section 18240 of title 10, United States Code, as added by subsection (a), the Secretary of Defense may authorize the Secretary of a military department, as part of an exchange agreement under such section, to make or accept a cash equalization payment if the value of the facility, or addition to an existing facility, to be acquired by the United States under the agreement is not equal to the fair market value of the facility to be conveyed by the United States under the agreement. All other requirements of such section shall continue to apply to the exchange. (2) Cash equalization payments received by the Secretary of a military department under this subsection shall be deposited in a separate account in the Treasury. Amounts in the account shall be available to the Secretary of Defense, without further appropriation and until expended, for transfer to the Secretary of a military department— (A) to make any cash equalization payments required to be made by the United States in connection with an exchange agreement covered by this subsection, and the account shall be the only source for such payments; and (B) to cover costs associated with the maintenance, protec tion, alteration, repair, improvement, or restoration (including environmental restoration) of facilities, and additions to existing facilities, acquired using an exchange agreement covered by this subsection. (3) Not more than 15 exchange agreements under section 18240 of title 10, United States Code, may include the exception for cash equalization payments authorized by this subsection. Of those 15 exchange agreements, not more than eight may be for the same reserve component. (4) In this section, the term ‘‘facility’’ has the meaning given that term in section 18232(2) of title 10, United States Code. (5) No cash equalization payment may be made or accepted under the authority of this subsection after September 30, 2007. Except as otherwise specifically authorized by law, the authority provided by this subsection to make or accept cash equalization payments in connection with the acquisition or disposal of facilities

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