(a) In general
The United States, acting through the Administrator, shall release the City of Banning, California, from all restrictions, conditions, and limitations on the use, encumbrance, conveyance, and closure of the Banning Municipal Airport, as described in the most recent airport layout plan approved by the FAA, to the extent such restrictions, conditions, and limitations are enforceable by the Administrator.
(b) Conditions
The release under subsection (a) shall not be executed before the City of Banning, California, or its designee, transfers to the United States Government the following:
(1) A reimbursement for 1983 grant the City of Banning, California received from the FAA for the purchase of 20 acres of land, at an amount equal to the fair market value for the highest and best use of the Banning Municipal Airport property determined in good faith by 2 independent and qualified real estate appraisers and an independent review appraiser on or after the date of the enactment of this Act.
(2) An amount equal to the unamortized portion of any Federal development grants other than land paid to the City of Banning for use at the Banning Municipal Airport, which may be paid with, and shall be an allowable use of, airport revenue notwithstanding section 47107 or 47133 of title 49, United States Code.
(3) For no consideration, all airport and aviation-related equipment of the Banning Municipal Airport owned by the City of Banning and determined by the FAA or the Department of Transportation of the State of California to be salvageable for use at other airports.
(c) Rule of construction
Nothing in this section shall be construed to limit the applicability of—
(1) the requirements and processes under section 46319 of title 49, United States Code;
(2) the requirements under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.);
(3) the requirements and processes under part 157 of title 14, Code of Federal Regulations; or
(4) the public notice requirements under section 47107(h)(2) of title 49, United States Code.