SEC. 2. ENHANCED AUTHORITIES WITH REGARD TO PRE-
PARING PROPERTIES TO BE REPORTED AS 
EXCESS. 
Section 572(a)(2) of title 40, United States Code, is 
amended— 
(1) by redesignating subparagraphs (B) and 
(C) as subparagraphs (C) and (D), respectively; and 
(2) by inserting after subparagraph (A) the fol-
lowing new subparagraph: 
‘‘(B) ADDITIONAL AUTHORITY.—(i) From 
the fund described in paragraph (1), subject to 
clause (iv), the Administrator may obligate an 
amount to pay, on a reimbursable basis, the di-
rect and indirect costs related to identifying 
and preparing properties to be reported excess 
by another agency. 
‘‘(ii) The General Services Administration 
may be reimbursed from the proceeds of the 
sale of such properties for such costs. 
‘‘(iii) After reimbursement of such costs, 
the balance of the proceeds shall be dispersed 
pursuant to section 571 of this title. 
‘‘(iv) The authority under clause (i) to ob-
ligate funds to prepare properties to be reported 
excess does not include the authority to convey 
such properties by sale, lease, exchange, or oth-
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erwise, including through leaseback arrange-
ments. 
‘‘(v) Nothing in this subparagraph is in-
tended to affect subparagraph (D).’’. 
SEC. 3. ENHANCED AUTHORITIES WITH REGARD TO RE-
VERTED REAL PROPERTY. 
(a) AUTHORITY TO PAY EXPENSES RELATED TO RE-
VERTED REAL PROPERTY.—Section 572(a)(2)(A) of title 
40, United States Code, is amended by adding at the end 
the following: 
‘‘(iv) The direct and indirect costs as-
sociated with the reversion, custody, and 
disposal of reverted real property.’’. 
(b) REQUIREMENTS RELATED
TO SALES
OF RE-
VERTED
PROPERTY
UNDER
SECTION
550.—Section 
550(b)(1) of title 40, United States Code, is amended— 
(1) by inserting ‘‘(A)’’ after ‘‘(1) IN
GEN-
ERAL.—’’; and 
(2) by adding at the end the following: ‘‘If the 
official, in consultation with the Administrator, rec-
ommends reversion of the property, the Adminis-
trator shall take control of such property, and, sub-
ject to subparagraph (B), sell it at fair market value 
for cash and not by lease, exchange, or leaseback ar-
rangements. 
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‘‘(B) Prior to sale, the Administrator shall 
make such property available to State and local gov-
ernments and certain non-profit institutions or orga-
nizations pursuant to this section and sections 553 
and 554 of this title.’’. 
(c) REQUIREMENTS RELATED
TO SALES
OF RE-
VERTED
PROPERTY
UNDER
SECTION
553.—Section 
553(e) of title 40, United States Code, is amended— 
(1) by inserting ‘‘(1)’’ after ‘‘THIS SECTION.— 
’’; and 
(2) by adding at the end the following: ‘‘If the 
Administrator determines that reversion of the prop-
erty is necessary to enforce compliance with the 
terms of the conveyance, the Administrator shall 
take control of such property and, subject to para-
graph (2), sell it at fair market value for cash and 
not by lease, exchange, or leaseback arrangements. 
‘‘(2) Prior to sale, the Administrator shall make such 
property available to State and local governments and cer-
tain non-profit institutions or organizations pursuant to 
this section and sections 550 and 554 of this title.’’. 
(d) REQUIREMENTS RELATED
TO SALES
OF RE-
VERTED
PROPERTY
UNDER
SECTION
554.—Section 
554(f) of title 40, United States Code, is amended— 
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(1) by inserting ‘‘(1)’’ after ‘‘THIS SECTION.— 
’’; and 
(2) by adding at the end the following: ‘‘If the 
Secretary, in consultation with the Administrator, 
recommends reversion of the property, the Adminis-
trator shall take control of such property and, sub-
ject to paragraph (2), sell it at fair market value for 
cash and not by lease, exchange, or leaseback ar-
rangements. 
‘‘(2) Prior to sale, the Administrator shall make such 
property available to State and local governments and cer-
tain non-profit institutions or organizations pursuant to 
this section and sections 550 and 553 of this title.’’. 
SEC. 4. AGENCY RETENTION OF PROCEEDS. 
The text of section 571 of title 40, United States 
Code, is amended to read as follows: 
‘‘(a) DEPOSIT OF PROCEEDS.—Proceeds described in 
subsection (d) shall be deposited into the appropriate real 
property account of the agency that had custody and ac-
countability for the real property. Such funds shall be ex-
pended only as authorized in annual appropriations Acts 
and only for activities related to Federal real property 
asset management and disposal activities, including pay-
ing costs incurred by the General Services Administration 
for any disposal-related activity authorized by this title. 
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‘‘(b) EFFECT ON OTHER SECTIONS.—Nothing in this 
section is intended to affect section 572(b) or 574 of this 
title. 
‘‘(c) DISPOSAL
AGENCY
FOR
REVERTED
PROP-
ERTY.—For the purposes of this section, the General Serv-
ices Administration, as the disposal agency, shall be treat-
ed as the agency with custody and accountability for prop-
erties which revert to the United States under sections 
550, 553, and 554 of this title. 
‘‘(d) PROCEEDS.—The proceeds referred to in sub-
section (a) are proceeds under this chapter from a— 
‘‘(1) transfer of excess property to a federal 
agency for agency use; or 
‘‘(2) sale, lease, or other disposition of surplus 
property.’’. 
Æ 
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