Detailed Summary

Requires the Director of the Office of Management and Budget (OMB) to conduct the Federal Real Property Disposal Pilot Program under which agencies will recommend and the Director will select real property that is not meeting federal government needs for expedited disposal.

Requires: (1) real property to be sold under the program only for monetary proceeds of not less than fair market value; and (2) agencies to receive associated administrative expenses and 20% of the remainder of the proceeds, with the rest going the the Treasury.

Status of the Legislation

Latest Major Action: 6/20/2007: Referred to Senate committee. Status: 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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