Fair Land Transfer Compensation Act - Requires the Administrator of General Services and the Secretary of the Interior to convey to the District of Columbia, without consideration, all right, title, and interest of the United States in and to U.S. Reservation 13 and Poplar Point, Anacostia Park, respectively.
Requires the Administrator and the Secretary each to: (1) conduct an appraisal of the property (including improvements if appropriate), based on fair market value; and (2) report to Congress on the results, including an estimate of all financial benefits to be generated on an annual basis to the District, and an assessment of the impact the conveyance will have in reducing the structural financial imbalance of the District.
Exempts the United States from any liability or responsibility pursuant to such transfer for any additional remedial action: (1) with respect to hazardous substances not existing on the property as of the date of conveyance, unless the presence of such hazardous substances on the property was caused by the United States; or (2) caused, required, or arising out of actions of the District of Columbia or any of the District's agents, contractors, or assigns.