H.R. 3523 — Wetlands Disposition and Protection Act of 1991

 
HR 3523 IH
102d CONGRESS
1st Session
 H. R. 3523
To provide for the protection and preservation of wetlands property held by
the Resolution Trust Corporation.
IN THE HOUSE OF REPRESENTATIVES
October 8, 1991
Mr. RIDGE introduced the following bill; which was referred to the Committee
on Banking, Finance and Urban Affairs
A BILL
To provide for the protection and preservation of wetlands property held by
the Resolution Trust Corporation.
  Be it enacted by the Senate and House of Representatives of the United
  States of America in Congress assembled,
SECTION 1. SHORT TITLE.
  This Act may be cited as the `Wetlands Disposition and Protection Act
  of 1991'.
SEC. 2. IDENTIFICATION AND DISPOSITION OF WETLANDS HELD BY THE RTC.
  (a) PURPOSE- The purpose of this section is to provide public and private
  entities with an opportunity and incentive to acquire real estate which
  has been identified as a wetlands in order to preserve the character of
  the wetlands property.
  (b) IDENTIFICATION OF WETLANDS AND ESTABLISHMENT OF CLEARINGHOUSE- Section
  21A(b)(12) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(b)(12))
  is amended by adding at the end the following new subparagraphs:
  `(G) REQUIREMENTS FOR PROPERTY IDENTIFICATION AND INVENTORY- In addition to
  the inventory of properties with values of special significance maintained
  pursuant to subparagraph (F), the Corporation shall establish procedures
  jointly with the Secretary of the Interior which provide for a timely and
  cost-efficient review of all properties which are under the jurisdiction of,
  or come under the jurisdiction of, the Corporation (in the Corporation's
  corporate capacity or as conservator or receiver) to identify wetlands
  property.
  `(H) CLEARINGHOUSE- The Corporation shall--
  `(i) establish an information clearinghouse to facilitate the dissemination
  of information on wetlands properties under the jurisdiction of the
  Corporation, including information provided by the Secretary of the Interior
  pursuant to section 3 of the Wetlands Disposition and Protection Act of
  1991; and
  `(ii) include such information with respect to wetlands property in the
  inventory of properties with values of special significance pursuant to
  subparagraph (F).
  `(I) UPDATING OF RECORDS- The Corporation shall update the inventory
  of properties with values of special significance maintained pursuant to
  subparagraph (F) and the information disseminated through the clearinghouse
  established under subparagraph (H) to reflect the identification of any
  additional property under the jurisdiction of the Corporation as wetlands
  property not later than 60 days after the date the Corporation first learns
  of such identification.
  `(J) PROHIBITION ON PROPERTY ALTERATION-
  `(i) IN GENERAL- The Corporation shall not alter or damage any property
  under the jurisdiction of the Corporation which has been identified as
  wetlands property by the Secretary of the Interior or otherwise take
  any action with respect to such property which is inconsistent with the
  preservation of such property as wetlands.
  `(ii) NO DUTY TO REHABILITATE PROPERTY- Clause (i) shall not be construed
  as requiring the Corporation to rehabilitate, restore, or reclaim any
  property referred to in such clause with respect to any condition of the
  property which existed at the time the Corporation acquired jurisdiction
  of the property.
  `(K) DISCRETIONARY FUNCTION OF CORPORATION- The determination of the
  appraisal value of any wetlands property within the jurisdiction of the
  Corporation shall--
  `(i) be the sole responsibility of the Corporation; and
  `(ii) be based on the use of such property for conservation purposes.
  `(L) RIGHT OF REVIEW- During the 90-day period beginning on the date the
  Secretary of the Interior provides written notice to the clearinghouse
  referred to in subparagraph (H) of the identification of wetlands property
  pursuant to section 3 of the Wetlands Disposition and Protection Act of
  1991, the Corporation may not sell, offer for sale, or otherwise dispose
  of such wetlands property to any person other than a public agency or
  nonprofit organization.
  `(M) RIGHT OF 1ST REFUSAL BY PUBLIC AGENCY- If the Corporation receives
  any notice during the 1st 45-day period of the 90-day period referred to
  in subparagraph (L) from any public agency or nonprofit organization of a
  serious interest on the part of such agency or organization in acquiring any
  property identified by the Secretary of the Interior as wetlands property,
  such property may not be sold or transferred by the Corporation to any
  person other than a public agency before the end of the 90-day period
  beginning at the end of such 45-day period.
  `(N) RIGHT OF 2D REFUSAL BY NONPROFIT ORGANIZATION- If the Corporation
  receives any notice during the 2d 45-day period of the 90-day period referred
  to in subparagraph (L) from any public agency or nonprofit organization
  of a serious interest on the part of such agency or organization in
  acquiring any property identified by the Secretary of the Interior as
  wetlands property, such property may not be sold or transferred (except as
  provided in subparagraph (M)) by the Corporation to any person other than
  a nonprofit organization before the end of the 90-day period beginning at
  the end of such 45-day period.
  `(O) CONVEYANCE OF WETLANDS- Notwithstanding any other provision of
  law, the Corporation may sell any property under the jurisdiction of the
  Corporation which has been identified as wetlands property by the Secretary
  of the Interior to any public agency or nonprofit organization for a price
  negotiated for conservation purposes if the agency or organization agrees,
  in such manner as may be acceptable to such Secretary and will be binding on
  any successor in interest to such property, to protect and preserve such
  property as wetlands for use primarily for wildlife refuge, sanctuary,
  open space, or natural resource conservation.
  `(P) NO NOTICE OF INTEREST- If the Corporation does not receive a
  timely notice of interest in any property identified by the Secretary
  of the Interior as wetlands property from a public agency or nonprofit
  organization within the applicable period referred to in subparagraph (M)
  or (N), the wetlands property may be sold or transferred by the Corporation
  to any person.
  `(Q) EXCEPTION FOR TRANSFER OF ALL OF THE ASSETS OF A SAVINGS ASSOCIATION-
  The provisions of subparagraphs (L), (M), (N), and (O) shall not apply with
  respect to any wetlands property within the jurisdiction of the Corporation
  which is subject to an agreement on the part of the Corporation to sell all
  or substantially all of the assets of a savings association for which the
  Corporation has been appointed receiver to an insured depository institution
  (as defined in section 3(c)(2) of the Federal Deposit Insurance Act).
  `(R) LIMITATION ON PRIVATE RIGHT OF ACTION-
  `(i) IN GENERAL- After any wet lands property under the jurisdiction of the
  Corporation is conveyed by the Corporation to any entity, the provisions
  of subparagraphs (G) through (P), and any failure of the Corporation to
  comply with any such provision, may not be used by any person so as to
  defeat any title to, or void the conveyance of, such wetlands property.
  `(ii) RULE OF CONSTRUCTION- Clause (i) shall not be construed as applying in
  the case of any failure by any transferee of wetlands property, or interest
  in wetlands property, acquired from the Corporation or by any successor in
  interest to such transferee to comply with the terms of the conveyance,
  including requirements relating to the preservation of such property as
  wetlands property.
  `(S) DEFINITIONS RELATING TO WETLANDS PROPERTY- For purposes of this
  paragraph--
  `(i) WETLANDS PROPERTY- The term `wetlands property'--
  `(I) means property described in the Emergency Wetlands Resources Act of
  1986 or under the authority of the North American Wetlands Conservation
  Act of 1989; and
  `(II) does not include prior converted cropland and land on which on-going
  farming activities are conducted which were exempt from the permitting
  guidelines under section 404 of the Clean Water Act and were undertaken
  before the Corporation acquired jurisdiction over the property.
  `(ii) PRIOR CONVERTED CROPLAND- The term `prior converted cropland' means
  land that--
  `(I) exhibits no significant wetlands value;
  `(II) was manipulated, drained, or otherwise physically altered to remove
  excess water from the land; and
  `(III) was cropped before December 23, 1985.
  `(iii)  ON-GOING FARMING ACTIVITIES- The term `on-going farming activities'
  means normal farming, silviculture, aquaculture, and ranching activities
  and practices, such as plowing, cultivating, minor draining, burning
  of vegetation in connection with such activities, harvesting for the
  production of food, fiber, or forest products, and upland soil or water
  conservation practices.'.
SEC. 3. DUTIES OF THE SECRETARY OF THE INTERIOR.
  (a) IDENTIFICATION OF WETLANDS PROPERTY- Before the end of the 60-day period
  beginning on the date on which the Resolution Trust Corporation transfers
  to the Secretary of the Interior a list of real property which is subject
  to the jurisdiction of the Corporation, the Secretary of the Interior shall--
  (1) review all real property which is under the jurisdiction of, or
  comes under the jurisdiction of, the Resolution Trust Corporation (in the
  Corporation's corporate capacity or as conservator or receiver); and
  (2) identify all of such property which is wetlands property (as defined
  in section 21A(b)(12) of the Federal Home Loan Bank Act).
  (b) COORDINATION WITH THE RTC- The Secretary of the Interior shall cooperate
  with the Resolution Trust Corporation in--
  (1) establishing the joint procedures described in section 21A(b)(12)
  of the Federal Home Loan Bank Act for identifying wetlands property,
  establishing an information clearinghouse, and providing information to
  the clearinghouse and the Corporation on such property; and
  (2) taking such other action as may be necessary to carry out the purposes
  of this section and subparagraphs (G) through (M) of such section 21A(b)(12).
Wetlands Disposition and Protection Act of 1991

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