(a) Transfer of Federal equityNotwithstanding any other provision of law, any Federal equity acquired in real property through grants to States awarded under title III of the Social Security Act (42 U.S.C. 501 et seq.) or under the Wagner-Peyser Act (29 U.S.C. 49 et seq.) is transferred to the States that used the grants for the acquisition of such equity. The portion of any real property that is attributable to the Federal equity transferred under this section shall be used to carry out activities authorized under this Act, title III of the Social Security Act, or the Wagner-Peyser Act. Any disposition of such real property shall be carried out in accordance with the procedures prescribed by the Secretary and the portion of the proceeds from the disposition of such real property that is attributable to the Federal equity transferred under this section shall be used to carry out activities authorized under this Act, title III of the Social Security Act, or the Wagner-Peyser Act.
(b) Limitation on useA State shall not use funds awarded under this Act, title III of the Social Security Act, or the Wagner-Peyser Act to amortize the costs of real property that is purchased by any State on or after February 15, 2007.
Structure US Code
CHAPTER 32— WORKFORCE INNOVATION AND OPPORTUNITY
SUBCHAPTER I— WORKFORCE DEVELOPMENT ACTIVITIES
§ 3241. Requirements and restrictions
§ 3242. Prompt allocation of funds
§ 3244. Fiscal controls; sanctions
§ 3245. Reports; recordkeeping; investigations
§ 3246. Administrative adjudication
§ 3249. Secretarial administrative authorities and responsibilities
§ 3250. Workforce flexibility plans
§ 3251. State legislative authority
§ 3252. Transfer of Federal equity in State employment security agency real property to the States
§ 3253. Continuation of State activities and policies