Federal Asset Sales Reform: Maximizing Taxpayer Value from Government Property.
This Act reforms how the federal government manages its real estate, focusing on selling or consolidating underutilized buildings to achieve the highest value for taxpayers. It introduces new valuation and sales methods and extends the operation of the oversight board until the end of 2026. Transparency is also increased by requiring earlier notification to local communities and Native American Tribes about planned transactions.
Key points
The government must use innovative methods, including expert real estate services, to maximize returns from property sales for taxpayers.
The program for reviewing and selling federal assets is extended until December 31, 2026, ensuring continued property consolidation efforts.
New requirements mandate earlier (45 days) notification to State, local, and Tribal governments regarding plans for federal properties in their vicinity, increasing local transparency.
Status:
Expired
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