‘‘(1) SECONDARY
REVIEW
OF
DETERMINA-
TION.—Not later than 20 days after real property 
has been determined unsuitable under section 624 
and before disposal of the real property in accord-
ance with subsection (d), any representative of the 
homeless may appeal to the Secretary of Housing 
and Urban Development for a secondary review of 
such determination. 
‘‘(2) CLEAR AND CONVINCING EVIDENCE.—Not 
later than 20 days after real property has been de-
termined unsuitable under subsection (b)(3) of sec-
tion 624, the Secretary of Housing and Urban De-
velopment shall deem such real property suitable 
notwithstanding the requirements of that subsection 
if a representative of the homeless has produced 
clear and convincing evidence that such property can 
be utilized for the benefit of the homeless. Any de-
termination under this paragraph shall be committed 
to the unreviewable discretion of the Secretary of 
Housing and Urban Development. 
‘‘(c) FINAL
SUITABILITY
DETERMINATION.—Not 
later than 20 days after the receipt of any appeal under 
subsection (b), the Secretary of Housing and Urban De-
velopment shall respond to such appeal and shall make 
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a final suitability determination regarding the real prop-
erty. 
‘‘(d) DISPOSAL OF UNSUITABLE REAL PROPERTY.— 
‘‘(1) NO APPEAL.—If at the end of the 20-day 
period required under subsection (a), no appeal for 
review of a determination of unsuitability is received 
by the Secretary of Housing and Urban Develop-
ment, such real property shall be disposed of in ac-
cordance with section 627. 
‘‘(2) 
DETERMINATION
OF
UNSUITABILITY 
AFTER SECONDARY REVIEW.—If after conducting a 
secondary review of a determination of unsuitability 
under subsection (b), the Secretary of Housing and 
Urban Development determines that the real prop-
erty remains unsuitable under subsection (c), such 
real property shall be disposed of in accordance with 
section 627. 
‘‘(3) DETERMINATION OF SUITABILITY AFTER 
SECONDARY
REVIEW.—If after conducting a sec-
ondary review of a determination of unsuitability 
under subsection (b), the Secretary of Housing and 
Urban Development determines that the real prop-
erty is suitable under subsection (c), such real prop-
erty shall be treated as suitable property for pur-
poses of section 626. 
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‘‘§ 626. Suitable real property 
‘‘(a) DISPOSAL OF SUITABLE REAL PROPERTY.— 
‘‘(1) APPLICATION
FOR
TRANSFER
OF
PROP-
ERTY.—If real property is determined suitable under 
section 624 or upon a secondary review under sec-
tion 625(d), any representative of the homeless shall 
have not more than 90 days after such determina-
tion to submit an application to the Secretary of 
Health and Human Services for the transfer of the 
real property to that representative. If an applica-
tion cannot be completed within the 90-day period 
due to non-material factors, the Secretary of Health 
and Human Services, with the concurrence of the 
appropriate landholding agency, may grant reason-
able extensions. 
‘‘(2) NO APPLICATION SUBMITTED.—If at the 
end of the time period described under paragraph 
(1), no representative of the homeless has submitted 
an application, such real property shall be disposed 
of in accordance with section 627. 
‘‘(b) CONSIDERATION OF APPLICATION.— 
‘‘(1) ASSESSMENT OF APPLICATION.—Not later 
than 20 days after the receipt of any application 
under subsection (a)(1), the Secretary of Health and 
Human Services shall assess such application and 
determine whether to approve or deny the request 
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for the transfer of the real property to such appli-
cant. 
‘‘(2) DENIAL OF APPLICATION.—If the applica-
tion of a representative of the homeless is denied by 
the Secretary of Health and Human Services under 
paragraph (1), such real property shall be disposed 
of in accordance with section 627. 
‘‘(3) APPROVAL OF APPLICATION.—If the appli-
cation of a representative of the homeless is ap-
proved by the Secretary of Health and Human Serv-
ices under paragraph (1), such real property shall be 
made promptly available to that representative by 
permit or lease, or by deed, as a public health use 
under subsections (a) through (d) of section 550. 
‘‘§ 627. Expedited disposal requirements 
‘‘(a) FAIR MARKET VALUE REQUIRED.—Real prop-
erty sold under the pilot program established under this 
subchapter shall be sold at not less than the fair market 
value, as determined by the Director in consultation with 
the head of the executive agency. Costs associated with 
such disposal may not exceed the fair market value of the 
property unless the Director approves incurring such 
costs. 
‘‘(b) MONETARY PROCEEDS REQUIRED.—Real prop-
erty may be sold under the pilot program established 
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under this subchapter only if the property will generate 
monetary proceeds to the Federal Government, as pro-
vided in subsection (a). A disposal of real property under 
the pilot program may not include any exchange, trade, 
transfer, acquisition of like-kind property, or other non- 
cash transaction as part of the disposal. 
‘‘(c) CONSTRUCTION.—Nothing in this subchapter 
shall be construed as terminating or in any way limiting 
authorities that are otherwise available to agencies under 
other provisions of law to dispose of Federal real property, 
except as provided in subsection (d). 
‘‘(d) EXPEDITED DISPOSAL EXEMPTIONS.—Any ex-
pedited disposal of real property conducted under this sub-
chapter shall not be subject to— 
‘‘(1) subchapter IV of this chapter; 
‘‘(2) sections 550 and 553 of this title; 
‘‘(3) section 501 of the McKinney-Vento Home-
less Assistance Act (42 U.S.C. 11411); 
‘‘(4) any other provision of law authorizing the 
no-cost conveyance of real property owned by the 
Federal Government; or 
‘‘(5) any congressional notification requirement 
other than that in section 545. 
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‘‘§ 628. Special rules for deposit and use of proceeds 
from disposal of real property 
‘‘(a) REIMBURSEMENT
OF
ADMINISTRATIVE
EX-
PENSES.—Executive agencies that dispose of real property 
under this subchapter shall be reimbursed from the pro-
ceeds, if any, from such disposal for the administrative 
expenses associated with such disposal. Such amounts 
shall be credited as offsetting collections to the account 
that incurred such expenses, to remain available until ex-
pended. 
‘‘(b) DEPOSIT OF PROCEEDS.— 
‘‘(1) IN GENERAL.—After payment of the ad-
ministrative expenses described under subsection (a), 
the balance of the proceeds shall be distributed as 
follows: 
‘‘(A) 80 percent shall be deposited into the 
Treasury as miscellaneous receipts. 
‘‘(B) 20 percent shall be deposited into the 
account of the agency that owned the real prop-
erty and initiated the disposal action. 
‘‘(2) FEDERAL REAL PROPERTY CAPITAL IM-
PROVEMENTS
AND
DISPOSAL
ACTIVITY
FUNDS.— 
Funds deposited under paragraph (1)(A) shall re-
main available until expended for the period of the 
pilot program, for activities related to Federal real 
property capital improvements and disposal activi-
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ties. Upon termination of the pilot program, any un-
obligated amounts shall be transferred to the general 
fund of the Treasury. 
‘‘§ 629. Limitation on number of permissible cash 
sales 
‘‘The total number of cash sales of real properties 
to be disposed of under this subchapter over the 5-year 
term of the Federal Real Property Disposal Pilot Program 
shall not exceed 750. 
‘‘§ 630. Government Accountability Office study 
‘‘(a) STUDY REQUIRED.—Not later than 36 months 
after the date of enactment of this subchapter, the Comp-
troller General of the United States shall submit to Con-
gress and make publicly available a study of the effective-
ness of the pilot program. 
‘‘(b) CONTENTS OF STUDY.—The study described 
under subsection (a) shall include at a minimum— 
‘‘(1) recommendations for permanent reforms 
to statutes governing real property disposals and no 
cost conveyances; and 
‘‘(2) recommendations for improving the perma-
nent process by which Federal properties are made 
available for use by the homeless.’’. 
(b) TECHNICAL AND CONFORMING AMENDMENT.— 
The table of sections for chapter 5 of subtitle I of title 
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40, United States Code, is amended by inserting after the 
item relating to section 611 the following: 
‘‘SUBCHAPTER VII—EXPEDITED DISPOSAL OF REAL PROPERTY 
‘‘§ 621. Definitions. 
‘‘§ 622. Pilot program. 
‘‘§ 623. Selection of real properties. 
‘‘§ 624. Suitability determination. 
‘‘§ 625. Unsuitable real property. 
‘‘§ 626. Suitable real property. 
‘‘§ 627. Expedited disposal requirements. 
‘‘§ 628. Special rules for deposit and use of proceeds from disposal of real prop-
erty. 
‘‘§ 629. Limitation on number of permissible cash sales. 
‘‘§ 630. Government Accountability Office study.’’. 
SEC. 4. PAYMENT OF PRINCIPAL AND INTEREST ON PUBLIC 
DEBT AND SOCIAL SECURITY TRUST FUNDS. 
(a) IN GENERAL.—In the event that the debt of the 
United States Government, as defined in section 3101 of 
title 31, United States Code, reaches the statutory limit, 
the Secretary of the Treasury shall, in addition to any 
other authority provided by law, issue obligations under 
chapter 31 of title 31, United States Code, to pay with 
legal tender, and solely for the purpose of paying, the prin-
cipal and interest on obligations of the United States de-
scribed in subsection (b) after the date of the enactment 
of this Act. 
(b) OBLIGATIONS DESCRIBED.—For purposes of this 
subsection, obligations described in this subsection are ob-
ligations which are— 
(1) held by the public, or 
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(2) held by the Old-Age and Survivors Insur-
ance Trust Fund and Disability Insurance Trust 
Fund. 
(c) PROHIBITION ON COMPENSATION FOR MEMBERS 
OF CONGRESS.—None of the obligations issued under sub-
section (a) may be used to pay compensation for Members 
of Congress. 
(d) OBLIGATIONS EXEMPT FROM PUBLIC DEBT 
LIMIT.—Obligations issued under subsection (a) shall not 
be taken into account in applying the limitation in section 
3101(b) of title 31, United States Code, to the extent that 
such obligation would otherwise cause the limitation in 
section 3101(b) of title 31, United States Code, to be ex-
ceeded. 
(e) REPORT ON CERTAIN ACTIONS.— 
(1) IN GENERAL.—If, after the date of the en-
actment of this Act, the Secretary of the Treasury 
exercises his authority under subsection (a), the Sec-
retary shall thereafter submit a report each week the 
authority is in use providing an accounting relating 
to— 
(A) the principal on mature obligations 
and interest that is due or accrued of the 
United States, and 
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(B) any obligations issued pursuant to 
subsection (a). 
(2) SUBMISSION.—The report required by para-
graph (1) shall be submitted to the Committee on 
Ways and Means of the House of Representatives 
and the Committee on Finance of the Senate. 
SEC. 5. RESCISSION OF UNOBLIGATED BALANCES. 
(a) IN GENERAL.—If a Federal budget deficit exists 
in 2015, not later than July 16, 2016, of the funds made 
available before October 1, 2009, the President may re-
scind any unobligated balances of such funds. 
(b) REPORT.—On the same date that the President 
orders a rescission under subsection (a), the President 
shall submit a report to Congress containing the total 
amounts of the funds rescinded and the affected accounts. 
Æ 
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