H.R. 409: To provide for the conveyance of certain Bureau of Land Management land in the State of Nevada to the Las Vegas Motor Speedway, and for other purposes

H.R. 409

To provide for the conveyance of certain Bureau of Land Management land in the State of Nevada to the Las Vegas Motor Speedway, and for other purposes

Date
July 13, 2009 (111th Congress, 1st Session)

Staff Contact
Communications

Floor Situation

H.R. 409 is being considered on the floor under suspension of the rules, requiring a two-thirds majority vote for passage on Monday, July 13, 2009. This legislation was introduced by Rep. Dean Heller (R-NV) on January 6, 2009. The bill was referred to the Committee on Natural Resources, which held a mark-up and reported the bill on July 10, 2009.

Bill Summary

H.R. 409 would direct the Secretary of the Interior to sell approximately 115 acres of land in Las Vegas, Nevada, to the Nevada Speedway, LLC, if the Speedway submits an offer to the Secretary to acquire the land for its appraised value within two years of the appraisal. The land could only be used for the Las Vegas Speedway parking lot expansion program. Under the bill, the Secretary would be required to complete an appraisal of the property within 120 days of enactment. All costs associated with the appraisal and sale would have to be paid for by the Nevada Speedway. The bill would allow the Secretary to deposit any proceeds from the conveyance into the Federal Land Disposal Account, for land acquisition purposes in Nevada without future appropriation.

Background

According to House Report 111-197, the Las Vegas Motor Speedway operates about 12 miles north of downtown Las Vegas and hosts NASCAR and other racing sports events. The speedway often draws crowds in excess of 100,000 people and has been assessing options for expanding its parking facilities. H.R. 409 would require the Secretary to complete an appraisal of 115 acres of Bureau of Land Management (BLM) lands for sale to the Speedway for parking lot expansion. After the appraisal is complete, BLM would be required to sell the land to the Speedway at the appraised cost, with the Speedway paying for all costs of the transfer.

Cost

According to CBO H.R. 409 would increase direct spending by approximately $10 to $20 million (the estimated amount of the sale) because it allows BLM to spend the proceeds for land acquisition without further appropriations.