A bill to provide for payments in lieu of real property taxes, with respect to certain real property owned by the Federal Government.

Provides for payments to State and local governments in lieu of real property taxes, with respect to real property owned by the Federal Government, wherever three percent or more of the land area is Federal real property. States that no payment shall be made under this Act if the Federal property would yield a negligible amount in real property taxes.

Authorizes appropriation of such sums as are necessary to make the payments provided for by this Act.