Detailed Summary

Federal Real Property Disposal Enhancement Act of 2008 - Authorizes the Administrator of the General Services Administration (GSA) to obligate amounts from the Treasury fund containing the proceeds of the disposition of surplus real and related personal property to pay: (1) the costs related to identifying and preparing properties to be reported as "excess" by another agency (authorizes GSA to be reimbursed for such costs from the proceeds of the sale of such properties); and (2) the direct and indirect costs associated with the reversion, custody, and disposal of reverted real property.

Requires the Administrator to: (1) take control of certain property for which reversion is recommended or determined to be necessary and to sell it at fair market value for cash and not by lease, exchange, or leaseback arrangements; and (2) make such property available to state and local governments and certain nonprofit institutions or organizations prior to sale.

Requires: (1) excess or surplus property proceeds to be deposited into the appropriate real property account of the agency that has custody and accountability for the real property (currently, deposited into the Treasury as miscellaneous receipts); and (2) the funds from such deposits to be expended only as authorized in annual appropriations Acts and only for activities related to federal real property asset management and disposal.

Status of the Legislation

Latest Major Action: 5/22/2008: Referred to Senate committee. Status: Received in the Senate and Read twice and referred to the Committee on Homeland Security and Governmental Affairs.

Points in Favor

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Points Against

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