‘‘(2) Subject to subsection (c), any amounts credited
or deposited to such account under this section, along with
such other amounts as may be appropriated or credited
from time to time in annual appropriations Acts, shall be
devoted to the sole purpose of funding that agency’s cap-
ital asset expenditures, including any expenses necessary
and incident to the agency’s real property capital acquisi-
tions, improvements, and dispositions, and such funds
shall remain available until expended, in accordance with
the agency’s asset management plan under section 214,
without further authorization: Provided, That—
‘‘(A) moneys from an exchange or sale of real
property, or a portion of a real property holding,
under section 216(b) shall be applied only to the re-
placement of that property or to the rehabilitation of
the portion of that real property holding that re-
mains in Federal ownership, and
‘‘(B) the head of each landholding agency shall
include with the materials the agency annually sub-
mits under section 1105 of title 31, United States
Code, a detailed accounting of all real property
transactions carried out under this title and of re-
ceipts and disbursements from the agency’s capital
asset account during the previous fiscal year.
‘‘(c) TRANSACTIONAL AND OTHER COSTS.—Federal
agencies may be reimbursed from the monetary proceeds
of real property dispositions under this Act or from other
available resources, including from the agency’s capital
asset account, for the full costs, direct and indirect, to the
agency disposing of such property, including the costs of
site remediation, restoration, or other environmental serv-
ices, relocating affected tenants and occupants, adver-
tising and marketing, community outreach, surveying, ap-
praisal, brokerage, historic preservation services, title in-
surance, due diligence, document notarization and record-
ing services, and the costs of managing leases and pro-
viding necessary services to the lessees.’’.
(b) RELATIONSHIP TO OTHER LAW.—(1) Nothing in
this Act shall be construed to repeal or supersede any
other provision of Federal law directing the use of pro-
ceeds from specific real property transactions or directing
how or where a particular Federal agency is to deposit,
credit, or use the proceeds from the sale, exchange, or
other disposition of Federal property except as expressly
provided for in this Act.
(2) Section 2(a) of the Land and Water Conservation
Fund Act of 1965 (16 U.S.C. 460l–5(a)) is superseded
only to the extent that the Federal Property and Adminis-
trative Services Act of 1949, as amended by this Act, or
a provision of this Act, provides for an alternative disposi-
tion of the proceeds from the disposal of any surplus real
property and related personal property subject to this Act,
or the disposal of any interest therein.
(3) Subsection 3302(b) of title 31, United States
Code, is superseded only to the extent that this Act or
any other Act provides for the disposition of money re-
ceived by the Government.
(c) IMPLEMENTATION
FOR FISCAL YEARS 2003–
2007.—For purposes of implementing this section, the fol-
lowing shall apply:
(1) For each of fiscal years 2003 through 2007,
the Director of the Office of Management and Budg-
et shall allocate to each agency a pro rata share of
the baseline estimate of total surplus real property
sales receipts transferred to the Land and Water
Conservation Fund as set forth in the President’s
budget for fiscal year 2003, made pursuant to sec-
tion 1109 of title 31, United States Code. The Di-
rector of the Office of Management and Budget
shall notify the affected agencies and the Appropria-
tion Committees of the House of Representatives
and the Senate in writing of this allocation within
30 days after the date of enactment of this Act and
shall not subsequently revise the allocation.
(2) On September 30 of each such fiscal year,
each agency shall remit to the Treasury an amount
equal to its allocation for that fiscal year, out of the
proceeds realized from any sales of the agency’s sur-
plus real property assets during that fiscal year.
(3) If an agency’s actual sale proceeds in any
such fiscal year are less than the amount allocated
to it by the Director of the Office of Management
and Budget for that fiscal year, the agency shall
remit all of its sale proceeds to the Treasury, and
its allocation for the subsequent fiscal year shall be
increased by the difference.
(4) On September 30, 2007, if an agency has
remitted less sale proceeds to the Treasury than its
total allocation for the five years, the agency shall
remit the difference to the Treasury out of any other
funds available to the agency.
SEC. 6. STREAMLINED AND ENHANCED DISPOSAL AU-
THORITIES.
(a) PUBLIC BENEFIT CONVEYANCES TO STATE AND
LOCAL GOVERNMENTS.—Section 203(k)(3) of the Federal
Property and Administrative Services Act of 1949 (40
U.S.C. 484(k)(3)) is amended as follows:
(1) By striking ‘‘or municipality’’ and inserting
‘‘municipality, or qualified nonprofit organization es-
tablished for the primary purpose of preserving his-
toric monuments’’.
(2) By inserting after the first sentence the fol-
lowing: ‘‘Such property may be conveyed to a non-
profit organization only if the State, political sub-
division, instrumentalities thereof, and municipality
in which the property is located do not request con-
veyance of the property under this section within 30
days after notice to them of the proposed conveyance
by the Administrator to that nonprofit organiza-
tion.’’.
(b) DUTIES OF SECRETARY OF INTERIOR.—Section
203(k)(4)(C) of the Federal Property and Administrative
Services Act of 1949 (40 U.S.C. 484(k)(4)(C)) is amended
to read as follows:
‘‘(C) the Secretary of the Interior, in the
case of property transferred pursuant to the
Surplus Property Act of 1944, and pursuant to
this Act, to States, political subdivisions, and
instrumentalities thereof, and municipalities for
use as a public park or public recreation area,
and to State, political subdivisions, and instru-
mentalities thereof, municipalities, and non-
profit organizations for use as a historic monu-
ment, for the benefit of the public; and’’.
(c) NEGOTIATED DISPOSALS.—Section 203(e) of the
Federal Property and Administrative Services Act of 1949
(40 U.S.C. 484(e)) is amended as follows:
(1) by striking paragraphs (3)(A), (3)(B),
(3)(C), and (3)(E);
(2) by redesignating paragraph (3)(D) and
paragraphs (3)(F) through (3)(I), as paragraphs
(3)(A) through (3)(E), respectively;
(3) by amending paragraph (3)(E) (as so redes-
ignated) to read as follows:
‘‘(E) otherwise authorized by this Act or
other law or, with respect to personal property,
the negotiated disposal is considered by the
agency head to be advantageous to the Govern-
ment.’’;
(4) in paragraph (6) by amending so much as
precedes subparagraph (B) to read as follows:
‘‘(6)(A) An explanatory statement shall be pre-
pared by the head of the landholding agency and
submitted to the Committee on Governmental Af-
fairs of the Senate and the Committee on Govern-
ment Reform of the House of Representatives, ex-
plaining the circumstances of each disposal by nego-
tiation of any real property that has an estimated
fair market value in excess of $700,000. The dollar