Section 1. Short title
This Act may be cited as the Huntsville Federal Courthouse Conveyance Act.
(a) In general
Not later than 60 days after the date of enactment of this Act, the Administrator of General Services shall offer to convey to the City of Huntsville, Alabama all right, title, and interest of the United States in and to the property described in subsection (b).
(b) Property description
The property described in this subsection is the parcel of land and building located at 101 E. Holmes Avenue, Huntsville, Alabama (in this Act, referred to as Courthouse).
(c) Consideration
In exchange for the conveyance of the Courthouse to the City of Huntsville, Alabama under this Act, the Administrator of General Services shall require the City of Huntsville, Alabama to pay to the Administrator of General Services, subject to subsection (c), consideration in an amount equal to the fair market value of the Courthouse, as determined based on an appraisal that is acceptable to the Administrator of General Services.
(d) Credits
In lieu of all or a portion of the amount of consideration for the Courthouse, the Administrator of General Services shall accept as consideration for the conveyance of such Courthouse any credits related to the appraised value of the 4.76-acre parcel of land located at 660 Gallatin Street, Huntsville, Alabama.
(e) Costs
As a condition of the conveyance under this section, the City shall pay all costs associated with the conveyance.