88 STAT. ]
PUBLIC LAW 93-423-SEPT. 27, 1974
1163
bursement and for the purpose of economic development, by loaning to, or by vesting title in, any of the following recipients located wholly ^°^'^ recipieats. or partially within the economic development region of such Federal cochairman: " (1) any State or political subdivision thereof; " (2) any tax-supported organization; "(3) any Indian tribe, band, group, pueblo, or Alaskan village or Regional Corporation (as defined by the Alaska Native Land Claims Settlement Act of 1971) recognized by the Federal Gov- 43 USC leoi ernment or any State, and any business owned by any tribe, band, group, pueblo, village, or Regional Corporation; " (4) any tax-supported or nonprofit private hospital; and "(5) any tax-supported or nonprofit private institution of higher education requiring a high school diploma, or equivalent, as a basis for admission. Such recipient may have, but need not have, received any other aid under this Act. For the purposes of this section, until a regional commission is established for the State of Alaska under section 502 of this Act, in the case of the State of Alaska the Secretary of Commerce shall 42 USC 3182 exercise the authority granted to a Federal cochairman under this section.
- '(b) For purposes of subsection (a) —
"(1) each Federal cochairman, in the acquiring of excess property, shall have the same priority as other Federal agencies; and "(2) the Secretary shall prescribe rules, regulations, and pro- ^j^^^^'^g ""'^ '^^ cedures for administering subsection (a) which may be different for each economic development region, except that the Secretary shall consult with the Federal cochairman of a region before prescribing such rules, regulations, and procedures for such region. •'(c)(1) The recipient of any property disposed of by any Federal Handling costs. cochairman under subsection (a) shall pay, to the Federal agency having custody of the property, all costs of care and handling incurred in the acquiring and disposing of such property; and such recipient shall pay all costs which may be incurred regarding such property after such Federal cochairman disposes of it, except that such recipient shall not pay any costs incurred after such property is returned under subsection (e). "(2) No Federal cochairman may be involved at any time in the receiving or processing of any costs paid by the recipient under paragraph (1). " (d) Each Federal cochairman. not later than six calendar months inventory. after the close of each fiscal year, shall account to the Secretary, as the Secretary shall prescribe, for all property acquired and disposed of, including any property acquired but not disposed of, under subsection (a) during such fiscal year. The Secretary shall have access to all information and related material in the possession of such Federal cochairman regarding such property. "(e) Any property determined by the Federal cochairman to be no Report to GSA. longer needed for the purpose of economic development shall be reported by the recipient to the Administrator of General Services for disposition under the Federal Property and Administrative Services Act of 1949. 40 USC 471 "(f) The value of any property acquired and disposed of, including note. any property acquired but not disposed of, under subsection (a) shall not be taken into account in the computation of any appropriation, or
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