H.R. 805 would direct the Bureau of Land Management (BLM) to convey, without consideration, a reversionary interest in two small parcels of land in Tulare, California, to the Union Pacific Railroad. The city of Tulare currently leases the affected parcels from the Union Pacific Railroad and is seeking to purchase the parcels under the condition that BLM’s reversionary interest is extinguished.
Because CBO expects that the railroad would retain ownership of the parcels over the next 10 years and that the federal government would receive no proceeds from those parcels over that period, we estimate that enacting the bill would not affect the federal budget. Therefore, pay-as-you-go procedures do not apply.
CBO estimates that enacting the legislation would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028.
H.R. 805 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.