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Chester County Reversionary Interest Release Act
12/31/2022, 5:07 AM
Summary of Bill HR 4415
The reversionary interest in question pertains to land that was previously transferred from the federal government to Chester County for public purposes. This reversionary interest gives the federal government the right to reclaim the land if it is no longer being used for the intended public purposes.
If passed, Bill 117 HR 4415 would release this reversionary interest, allowing Chester County to retain ownership of the land without the threat of it being reclaimed by the federal government. This would provide certainty and stability for the county in terms of land ownership and use. Overall, the Chester County Reversionary Interest Release Act is a straightforward piece of legislation that aims to clarify and solidify land ownership rights in Chester County, Pennsylvania. It is currently under consideration by Congress and may have implications for land use and ownership in the area if passed.
Congressional Summary of HR 4415
Chester County Reversionary Interest Release Act
This bill directs the Department of Agriculture (USDA) to release the reversionary interest of the United States in a 0.62-acre parcel of land in Chickasaw State Forest in Tennessee (the state forest land), if, as consideration for the release, Tennessee agrees to transfer to the United States a vested future interest in the 0.90-acre parcel known as the Webb property that is similar to the reversionary interest in order to facilitate a land exchange between Bethel Baptist Church in Henderson, Tennessee, and the state.
As soon as the state has complied with specified requirements concerning the deed for the state forest land, USDA shall convey to the state the undivided mineral interest of the United States in such land.
Additionally, USDA must determine the mineral character of the state forest land and the fair market value of the U.S. mineral interests no more than 90 days after enactment of this bill. Tennessee must pay the United States the fair market value of the mineral interests.
