Review and report on conveyance of Joint Base Elmendorf-Richardson, Anchorage, Alaska

(a) Review and required Not later than 180 days after the date of the enactment of this Act, the Secretary of Defense shall conduct a comprehensive review of, and submit to the Committees on Armed Services of the Senate and the House of Representatives a report on, the feasibility and advisability of conveying to the municipality of Anchorage, Alaska (in this section referred to as the Municipality), all right, title, and interest of the United States in and to approximately 50 acres of land located on Joint Base Elmendorf-Richardson in Anchorage, Alaska (in this section referred to as the parcel). (b) Elements of review The review required by subsection (a) shall address, at a minimum, each of the following: (1) The current and anticipated utility of the parcel to the Department of Defense and the value of the parcel to the Municipality. (2) The operational impact to the Department of the conveyance under such subsection. (3) The benefits to the Department of such conveyance, including any expected reduction in maintenance costs, real property obligations, and administrative burdens associate with continued ownership of the parcel. (4) The legal authorities required to effectuate such conveyance, including any required congressional action, environmental review under the National Environmental Policy Act of 1969 (42 U.S.C. 4321 et seq.), and compliance with the base realignment and closure process, if applicable. (5) The terms and conditions, including any reversionary interests, use restrictions, or Federal Government access rights, that should be incorporated into any instrument of conveyance of the parcel to protect the interests of the Department. (6) The estimated fair market value of the Federal Government interest in the parcel. (c) Form of report The report required by subsection (a) shall be submitted in unclassified form, but may include a classified annex. (d) No authorization for conveyance Nothing in this section shall be construed to authorize the conveyance of the parcel or any other Federal Government property, or to waive any otherwise applicable requirement of law.