S. 2178, Federal Real Property Asset Management Reform Act of 2012

Cost Estimate
September 10, 2012

As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on June 29, 2012

S. 2178 would amend the Federal Property and Administrative Services Act (Property Act) to facilitate the disposal of federal real property. The legislation would expand the duties and responsibilities of the Federal Real Property Council (FRPC), provide new authorities to the General Services Administration (GSA), and establish a five-year program to expedite the disposal of underutilized federal property.

CBO estimates that, assuming the availability of appropriated funds, implementing S. 2178 would cost $103 million over the 2013-2017 period for additional administrative and reporting activities related to disposing of property.

Enacting the bill would affect direct spending by increasing both receipts from property sales and spending of those receipts; therefore, pay-as-you-go procedures apply. CBO estimates, however, that any change in net direct spending would not be significant. Enacting the legislation would not affect revenues.

S. 2178 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would impose no costs on state, local, or tribal governments.