Uphold Our Promise to Veterans Act

To repeal the annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62, and for other purposes. 1. Short title This Act may be cited as the Uphold Our Promise to Veterans Act 2. Repeal of annual adjustment of retired pay and retainer pay amounts for retired members of the Armed Forces under age 62 Section 403 of the Bipartisan Budget Act of 2013 is hereby repealed. 3. Prohibition on assistance to Egypt and Pakistan (a) Egypt Assistance may not be provided to the Government of Egypt under any provision of law. (b) Pakistan Economic and security assistance may not be provided to the Government of Pakistan under any provision of law. (c) Effective date This section takes effect on the date of the enactment of this Act and applies with respect to funds made available to any Federal department or agency beginning with fiscal year 2015. 4. Authorization to sell land (a) Authorization For each of fiscal years 2014 through 2024 or when the authority under this section is terminated in accordance with subsection (d), whichever occurs first, subject to valid existing rights, the Secretary of the Interior or the Secretary of Agriculture, as the case may be, shall offer for competitive sale by auction all right, title, and interest, to the extent provided in subsection (b)(2), in and to the following: (1) Eight percent of the Federal land managed by the Bureau of Land Management. (2) Eight percent of the National Forest System land. (b) Terms and conditions (1) Configuration of land The Secretary concerned shall configure the land to be sold to maximize marketability or achieve management objectives, and may prescribe such terms and conditions on the land sales authorized by this Act as the Secretary deems in the public interest. (2) Mineral rights For each fiscal year, the Secretary concerned may include in the sale of land under subsection (a) the mineral rights to such land for not more than 50 percent of the total acreage sold under subsection (a) by that Secretary, if the Secretary determines that such inclusion is likely to maximize marketability. (c) Proceeds from the sale of land All proceeds from the sale of land under this section shall be deposited into the Treasury and applied— (1) to reduce the annual Federal budget deficit for the fiscal year in which the sums are received, except as provided in paragraph (2); and (2) if there is no annual Federal budget deficit for the fiscal year in which the sums are received, to reduce the outstanding Federal debt. (d) Termination of authority The authority under this section shall terminate when the proceeds deposited into the Treasury under subsection (c) equal $3,500,000 or at the end of fiscal year 2024, whichever occurs first.

Summary: Uphold Our Promise to Veterans Act - Repeals the provision of the Bipartisan Budget Act of 2013 that reduces the cost-of-living adjustment to the retirement pay of members of the Armed Forces under age 62. Prohibits assistance to the Government of Egypt and economic and security assistance to the Government of Pakistan effective on the date of enactment of this Act with respect to funds made available beginning with FY2015. Requires: (1) 8% of federal land managed by the Bureau of Land Management (BLM) and 8% of the National Forest System land to be offered for competitive sale by auction, and (2) proceeds from the sale of such lands to be used to reduce the annual federal budget deficit or the outstanding federal debt.