118 STAT. 2415 PUBLIC LAW 108–424—NOV. 30, 2004 (1) AGREEMENT.—The term ‘‘Agreement’’ means the land exchange agreement between Aerojet General Corporation and the United States, dated July 14, 1988. (2) CORRIDOR.—The term ‘‘corridor’’ means— (A) the right of way corridor that is— (i) identified in section 5(b)(1) of the Nevada Florida Land Exchange Authorization Act of 1988 (102 Stat. 55); and (ii) described in section 14(a) of the Agreement; (B) such portion of the utility corridor identified in the 1988 Las Vegas Resource Management Plan located south of the boundary of the corridor described in subpara graph (A) as is necessary to relocate the right of way cor ridor to the area described in subsection (c)(2); and (C) such portion of the utility corridor identified in the 2000 Caliente Management Framework Plan Amend ment located north of the boundary of the corridor described in subparagraph (A) as is necessary to relocate the right of way corridor to the area described in subsection (c)(2). (3) SECRETARY.—The term ‘‘Secretary’’ means the Secretary of the Interior. (b) RELINQUISHMENT AND FAIR MARKET VALUE.— (1) IN GENERAL.—The Secretary shall, in accordance with this section, relinquish all right, title, and interest of the United States in and to the corridor on receipt of a payment in an amount equal to the fair market value of the corridor (plus any costs relating to the right of way relocation described in this title). (2) FAIR MARKET VALUE.— (A) The fair market value of the corridor shall be equal to the amount by which the value of the discount described in the 1988 appraisal of the corridor that was applied to the land underlying the corridor has increased, as determined by the Secretary using the multiplier deter mined under subparagraph (B). (B) Not later than 60 days after the date of the enact ment of this Act, the Appraisal Services Directorate of the Department of the Interior shall determine an appro priate multiplier to reflect the change in the value of the land underlying the corridor between— (i) the date of which the corridor was transferred in accordance with the Agreement; and (ii) the date of enactment of this Act. (3) PROCEEDS.—Proceeds under this subsection shall be deposited in the account established under section 103(b)(3). (c) RELOCATION.— (1) IN GENERAL.—The Secretary shall relocate to the area described in paragraph (2), the portion of IDI–26446 and UTU– 73363 identified as NVN–49781 that is located in the corridor relinquished under subsection (b)(1). (2) DESCRIPTION OF AREA.—The area referred to in para graph (1) is the area located on public land west of United States Route 93. (3) REQUIREMENTS.—The relocation under paragraph (1) shall be conducted in a manner that— (A) minimizes engineering design changes; and Deadline.
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