((a)) ** .—**

((1)) Subject to paragraph (2), the Secretary of the Navy may exercise any authority or combination of authorities in this section for the purpose of developing or facilitating the development of Ford Island, Hawaii, to the extent that the Secretary determines the development is compatible with the mission of the Navy.

((2)) The Secretary of the Navy may not exercise any authority under this section until—

((A)) the Secretary submits to the appropriate committees of Congress a master plan for the development of Ford Island, Hawaii; and

((B)) a period of 30 calendar days has elapsed following the date on which the notification is received by those committees.

((b)) ** .—**

((1)) The Secretary of the Navy may convey to any public or private person or entity all right, title, and interest of the United States in and to any real property (including any improvements thereon) or personal property under the jurisdiction of the Secretary in the State of Hawaii that the Secretary determines—

((A)) is excess to the needs of the Navy and all of the other armed forces; and

((B)) will promote the purpose of this section.

((2)) A conveyance under this subsection may include such terms and conditions as the Secretary considers appropriate to protect the interests of the United States.

((c)) ** .—**

((1)) The Secretary of the Navy may lease to any public or private person or entity any real property or personal property under the jurisdiction of the Secretary in the State of Hawaii that the Secretary determines—

((A)) is not needed for current operations of the Navy and all of the other armed forces; and

((B)) will promote the purpose of this section.

((2)) A lease under this subsection shall be subject to and may include such other terms as the Secretary considers appropriate to protect the interests of the United States.

((3)) A lease of real property under this subsection may provide that, upon termination of the lease term, the lessee shall have the right of first refusal to acquire the real property covered by the lease if the property is then conveyed under subsection (b).

((4))

((A)) The Secretary may provide property support services to or for real property leased under this subsection.

((B)) To the extent provided in appropriations Acts, any payment made to the Secretary for services provided under this paragraph shall be credited to the appropriation, account, or fund from which the cost of providing the services was paid.

((d)) ** .—**

((1)) The Secretary of the Navy may acquire a leasehold interest in any facility constructed under subsection (f) as consideration for a transaction authorized by this section upon such terms as the Secretary considers appropriate to promote the purpose of this section.

((2)) The term of a lease under paragraph (1) may not exceed 10 years, unless the Secretary of Defense approves a term in excess of 10 years for purposes of this section.

((3)) A lease under this subsection may provide that, upon termination of the lease term, the United States shall have the right of first refusal to acquire the facility covered by the lease.

((e)) ** .—** The Secretary of the Navy shall use competitive procedures for purposes of selecting the recipient of real or personal property under subsection (b) and the lessee of real or personal property under subsection (c).

((f)) ** .—**

((1)) As consideration for the conveyance of real or personal property under subsection (b), or for the lease of real or personal property under subsection (c), the Secretary of the Navy shall accept cash, real property, personal property, or services, or any combination thereof, in an aggregate amount equal to not less than the fair market value of the real or personal property conveyed or leased.

((2)) Subject to subsection (i), the services accepted by the Secretary under paragraph (1) may include the following:

((A)) The construction or improvement of facilities at Ford Island.

((B)) The restoration or rehabilitation of real property at Ford Island.

((C)) The provision of property support services for property or facilities at Ford Island.

((g)) ** .—** The Secretary of the Navy may carry out a transaction authorized by this section only after the end of the 20-day period beginning on the date on which the Secretary submits, in an electronic medium pursuant to , to the appropriate committees of Congress notice of the transaction, including a detailed description of the transaction and a justification for the transaction specifying the manner in which the transaction will meet the purposes of this section.

((h)) ** .—**

((1)) There is established on the books of the Treasury an account to be known as the “Ford Island Improvement Account”.

((2)) There shall be deposited into the account the following amounts:

((A)) Amounts authorized and appropriated to the account.

((B)) Except as provided in subsection (c)(4)(B), the amount of any cash payment received by the Secretary for a transaction under this section.

((i)) ** .—**

((1)) Subject to paragraph (2), to the extent provided in advance in appropriations Acts, funds in the Ford Island Improvement Account may be used as follows:

((A)) To carry out or facilitate the carrying out of a transaction authorized by this section.

((B)) To carry out improvements of property or facilities at Ford Island.

((C)) To obtain property support services for property or facilities at Ford Island.

((2)) To extent that the authorities provided under subchapter IV of this chapter are available to the Secretary of the Navy, the Secretary may not use the authorities in this section to acquire, construct, or improve family housing units, military unaccompanied housing units, or ancillary supporting facilities related to military housing.

((3))

((A)) The Secretary may transfer funds from the Ford Island Improvement Account to the following funds:

((i)) The Department of Defense Family Housing Improvement Fund established by .

((ii)) The Department of Defense Military Unaccompanied Housing Improvement Fund established by .

((B)) Amounts transferred under subparagraph (A) to a fund referred to in that subparagraph shall be available in accordance with the provisions of for activities authorized under subchapter IV of this chapter at Ford Island.

((j)) ** .—** Except as otherwise provided in this section, transactions under this section shall not be subject to the following:

((1)) Sections 2667 and 2696 of this title.

((2)) Section 501 of the McKinney-Vento Homeless Assistance Act ().

((3)) Subchapter II of chapter 5 and sections 541–555 of title 40.

((k)) ** .—** Nothing in this section shall be construed to waive the applicability to any lease entered into under this section of the budget scorekeeping guidelines used to measure compliance with the Balanced Budget and Emergency Deficit Control Act of 1985.

((l)) ** .—** In this section, the term “property support service” means the following:

((1)) Any utility service or other service listed in .

((2)) Any other service determined by the Secretary to be a service that supports the operation and maintenance of real property, personal property, or facilities.