Authorizes the Secretary of Commerce to convey to a nonfederal entity specified real property, including improvements, located at 1010 Stedman Street in Ketchikan, Alaska, under the administrative jurisdiction of the National Oceanic and Atmospheric Administration (NOAA), provided that the United States receive consideration of at least fair market value of the property or rights conveyed. Specifies acceptable forms of property, cash, and in-kind consideration.
Directs that any proceeds the United States receives as such consideration be available to the Secretary, subject to appropriation, for the acquisition, through lease or by purchase of real property, and associated design and construction of a new port facility in Ketchikan, Alaska, that is under the administrative jurisdiction of the Under Secretary for Oceans and Atmosphere.