S. 3076, an act to release a federal reversionary interest in Chester County, Tennessee, to manage certain Federal land in Bath County, Virginia, and for other purposes

S. 3076 would direct the Forest Service to release a federal reversionary interest in 0.62 acres of state land in Tennessee. In 1955, the Forest Service conveyed land to the state under the condition that it be used for public purposes. Under current law, if the affected land is used for any other purpose, it could revert back to federal ownership. Subsurface mineral interests remain under federal ownership.

Under current law, the Forest Service could convey the reversionary interest through existing authorities. Any monetary consideration from such a conveyance would be classified in the budget as an offsetting receipt, or a reduction in direct spending, and would be available to spend without further appropriation. The net result on direct spending would be negligible. CBO does not expect any mineral leasing to occur on the property over the next 10 years.

Under S. 3076, the reversionary interest would be released without consideration. The legislation also would direct the Forest Service to offer to sell to the state of Tennessee the federal subsurface mineral interests in the property at market value. CBO estimates that any proceeds from that sale, which would be classified in the budget as offsetting receipts, would total less than $500,000.

The legislation also would designate 5,600 acres in the George Washington National Forest in Virginia as wilderness and potential wilderness. Based on the costs of similar activities, CBO estimates that implementing that provision of S. 3076 would cost less than $500,000; any spending would be subject to the availability of appropriated funds.