16-U.S.C.-406D-3
§406D-3 – §406D-3. Compensation For Tax Losses; Limitation On Annual Amount
Pathway
Title 16 > Chapter 1 > Subchapter XLIX > Section 406d-3
Details
- Reference: Section 406d-3
- Legend: §406D-3 – §406D-3. Compensation For Tax Losses; Limitation On Annual Amount
- USCode Year: 2013
Provision Content
(a) In order to provide compensation for tax losses sustained as a result of any acquisition by the United States, subsequent to March 15, 1943, of privately owned lands, together with any improvements thereon, located within the exterior boundary of the Grand Teton National Park established by this subchapter and sections 431a, 451a, 482m, 673b, and 673c of this title, payments shall be made to the State of Wyoming for distribution to the county in which such lands are located in accordance with the following schedule of payments: For the fiscal year in which the land has been or may be acquired and nine years thereafter there shall be paid an amount equal to the full amount of annual taxes last assessed and levied on the land, together with any improvements thereon, by public taxing units in such county, less any amount, to be determined by the Secretary of the Interior, which may have been paid on account of taxes for any period falling within such fiscal year. For each succeeding fiscal year, until twenty years elapse, there shall be paid on account of such land an amount equal to the full amount of taxes referred to in the preceding sentence, less 5 per centum of such full amount for each fiscal year, including the year for which the payment is to be made: Provided, That the amount payable under the foregoing schedule for any fiscal year preceding the first full fiscal year following September 14, 1950, shall not become payable until the end of such first full fiscal year.
(b) As soon as practicable after the end of each fiscal year, the amount then due for such fiscal year shall be computed and certified by the Secretary of the Interior, and shall be paid by the Secretary of the Treasury: Provided, That such amount shall not exceed 25 per centum of the fees collected during such fiscal year from visitors to the Grand Teton National Park established by this subchapter and sections 431a, 451a, 482m, 673b, and 673c of this title, and the Yellowstone National Park. Payments made to the State of Wyoming under this section shall be distributed to the county where the lands acquired from private landowners are located and in such manner as the State of Wyoming may prescribe.
(Sept. 14, 1950, ch. 950, §5, 64 Stat. 851.)
Repeal of Inconsistent Laws
Repeal of laws inconsistent with act Sept. 14, 1950, see note set out under section 406d–1 of this title.
U.S. Encyclopedia of Law Coverage
16-U.S.C.-398D in the Legal Encyclopedia: Conservation
In this entry about 16-U.S.C.-398D, find legal reference material, bibliographies and premiere content related to conservation in the American Encyclopedia of Law, presenting a comprehensive view of the United States conservation-specific issues, written by authorities in the field.
Subchapter XLII-A – Kaloko-HonokŌhau National Historical Park in the Legal Encyclopedia: Parks
In this entry about Subchapter XLII-A – Kaloko-HonokŌhau National Historical Park, find legal reference material, bibliographies and premiere content related to parks in the American Encyclopedia of Law, presenting a comprehensive view of the United States parks-specific issues, written by authorities in the field.
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