S-2375 : Still Just a Bill

Federal Asset Sale and Transfer Act of 2015

This bill establishes the Federal Tangible Property Management Reform Board to identify opportunities for the federal government to significantly reduce the inventory of tangible property it holds and reduce its costs. The Board shall terminate six years after enactment of this Act.

Each federal agency shall submit to the General Services Administration (GSA) and the Office of Management and Budget (OMB) current data of all federal civilian real properties and all federal physical property owned, leased, or controlled by such agency and recommendations regarding: (1) federal tangible properties (federal physical property and federal civilian real property exceeding $50,000 in value) that can be disposed of or outleased because it no longer meets the needs of the agency or that can be transferred, consolidated, or redeveloped to reduce the inventory, reduce operating costs, and create the highest return for the taxpayer; and (2) operational efficiencies that may be realized in the operation and maintenance of such properties. The OMB shall review agency recommendations, develop standards for reviewing such recommendations, and submit such standards and its recommendations to the Board.

The Board shall: (1) identify at least five federal civilian real properties with a total fair market value of at least $500 million and at least five federal moveable physical properties with a total fair market value of not less than $100,000 that are not on the list of surplus or excess, which properties shall be treated as agency recommendations; (2) analyze the inventory of federal tangible property and the associated recommendations; (3) implement a system of accounting to evaluate the cost of and returns on such recommendations; and (4) report its conclusions and recommendations to the OMB.

The OMB shall: (1) review and report on its approval, disapproval, or revision of the Board's recommendations; and (2) report information about the properties involved to the Department of Housing and Urban Development (HUD).

Each agency shall: (1) carry out approved recommendations within six years, and (2) submit a report of excess to the GSA regarding the Board-identified properties for which recommendations have been approved. The GSA shall sell such properties for fair market value.

HUD shall identify any suitable properties for use as a property benefitting the mission of assistance to the homeless for the purposes of further screening pursuant to the McKinney-Vento Homeless Assistance Act.

The Government Accountability Office shall annually review and report to Congress on agency implementation activities under this Act.

The net proceeds of the disposition or lease of surplus tangible property or the transfer of surplus property to a federal agency for agency use shall be deposited into the tangible property account of the agency that had custody of the property at the time it was determined to be excess. Such proceeds may be expended only as authorized in annual appropriations Acts. Any net proceeds that are not expended shall be used for deficit reduction. The net proceeds of the disposition, lease, or transfer of excess personal property shall be deposited in the Treasury as miscellaneous receipts.

The GSA shall publish a database of all federal tangible property under the custody and control of all federal agencies, with a national security exclusion.

The bill amends the McKinney-Vento Homeless Assistance Act to allow the use of surplus property to provide permanent housing with or without supportive services to assist the homeless.