Sec. 5. Duties of Board
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/bill/114/s/2375/is/section-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Board shall identify opportunities for the Federal Government— to significantly reduce the inventory of tangible property held by the Federal Government; and to reduce costs to the Federal Government. Not later than 180 days after the date on which the last Board member has been appointed pursuant to section 3(c), the Board shall— identify not less than 5 Federal civilian real properties that are not on the list of surplus or excess as of that date with a total fair market value of not less than $500,000,000; and submit to the Director and to Congress a list of the properties identified pursuant to subparagraph (A), which shall be— treated as a recommendation under section 4; and subject to the approval process described in section 6.
Not later than 180 days after the date on which the last Board member has been appointed pursuant to section 3(c), the Board shall— identify not less than 5 Federal moveable physical properties that are not on the list of surplus or excess as of that date with a total fair market value of not less than $100,000; and submit to the Director and to Congress a list of the properties identified pursuant to subparagraph (A), which shall be— treated as a recommendation under section 4; and subject to the approval process described in section 6.
To assist the Board in carrying out paragraphs
(1)and (2), a Federal agency shall provide to the Board, on request, any information and data regarding the properties of the Federal agency. The Board shall notify the committees described in section 3(d)(3)(A) of any failure by any agency to comply with a request of the Board. The Federal Government may not lease back any of the existing improvements on properties sold under this subsection. Not later than 60 days after the date on which the recommendations of the Board pursuant to paragraphs
(1)and
(2)have been approved, each Federal agency with custody, control, or administrative jurisdiction over the identified properties shall submit to the Administrator a report of excess. Notwithstanding any other provision of law (except as provided in section 7(g)), the Administrator shall— not later than 120 days after the date on which the Administrator receives the report of excess under paragraph (5), initiate the sale of the properties identified pursuant to paragraphs (1)(A) and (2)(A); and not later than 1 year after the date on which the Administrator receives the report of excess under paragraph (5), sell the properties referred to in subparagraph
(A)at fair market value at highest and best use. The Board— shall perform an independent analysis of the inventory of Federal tangible property and the recommendations submitted pursuant to section 4; shall not be bound or limited by the recommendations submitted pursuant to section 4; and in any case in which the Board determines that a Federal agency has failed to provide necessary information, data, or adequate recommendations that meet the standards and criteria developed under section 4(b), shall develop such recommendations as the Board considers to be appropriate based on existing data contained in the Federal Real Property Profile or other relevant information. Notwithstanding any other provision of law, the Board— may receive and consider proposals, information, and other data submitted by State and local officials and the private sector; and shall make any information received under paragraph
(1)publicly available. The Board shall— not later than 120 days after the date of enactment of this Act, identify or develop and implement a system of accounting to be used to independently evaluate the costs of and returns on the recommendations provided to the Board under this Act; use the accounting system referred to in paragraph
(1)to assist in— developing the recommendations of the Board; and determining the highest return to the taxpayer; and establish a standard performance period for use in carrying out paragraphs
(1)and (2). The Board shall conduct public hearings. All testimony before the Board at a public hearing under this subsection shall be presented under oath. Not later than 120 days after the date of receipt of recommendations pursuant to section 4, and annually thereafter, the Board shall submit to the Director, and publicly post on a Federal Web site maintained by the Board, a report that includes the findings, conclusions, and recommendations of the Board for the consolidation, exchange, colocation, reconfiguration, lease reduction, sale, outlease, or redevelopment of Federal tangible properties, and for other operational efficiencies that can be realized in the operation and maintenance of those properties. To the extent that Board recommendations under paragraph
(1)include the sale or disposal of tangible property, those properties may be reported as excess, declared surplus, or determined as no longer meeting the needs of the Federal Government, excluding leasebacks or other similar exchange agreements in which the property continues to be used by the Federal Government. The Board— shall seek to develop consensus recommendations; but if a consensus cannot be obtained, may include in the report under paragraph
(1)recommendations that are supported by a majority of the Board. The Board shall establish and maintain a Federal Web site for the purposes of making relevant information publicly available. The Comptroller General of the United States shall submit to Congress and to the Board a report that includes— a detailed analysis of the recommendations provided by the Board under subsection (g); and a description of the selection process used to develop the recommendations.