(c) AUTHORITY FOR LEASE OF CERTAIN LANDS OF 
UNIVERSITY
OF COLORADO.—Notwithstanding section 
8103 of title 38, United States Code, the Secretary of Vet-
erans Affairs may enter into a lease for real property lo-
cated at the Fitzsimons Campus of the University of Colo-
rado for a period up to 75 years. 
SEC. 3. DEPARTMENT OF VETERANS AFFAIRS CAPITAL 
ASSET FUND. 
(a) ESTABLISHMENT OF FUND.—(1) Subchapter I of 
chapter 81 is amended by adding at the end the following 
new section: 
‘‘§ 8117. Authority for transfer of real property; Cap-
ital Asset Fund 
‘‘(a)(1) The Secretary may transfer real property 
under the jurisdiction or control of the Secretary (includ-
ing structures and equipment associated therewith) to an-
other department or agency of the United States or to a 
State (or a political subdivision of a State) or to any public 
or private entity, including an Indian tribe. Such a trans-
fer may be made only if the Secretary receives compensa-
tion of not less than the fair market value of the property, 
except that no compensation is required, or compensation 
at less than fair market value may be accepted, in the 
case of a transfer to a grant and per diem provider (as 
defined in section 2002 of this title). When a transfer is
made to a grant and per diem provider for less than fair 
market value, the Secretary shall require in the terms of 
the conveyance that if the property transferred is used for 
any purpose other than a purpose under chapter 20 of 
this title, all right, title, and interest to the property shall 
revert to the United States. 
‘‘(2) The Secretary may exercise the authority pro-
vided by this section notwithstanding sections 521, 522 
and 541–545 of title 40. Any such transfer shall be in 
accordance with this section and section 8122 of this title. 
‘‘(3) The authority provided by this section may not 
be used in a case to which section 8164 of this title ap-
plies. 
‘‘(4) The Secretary may enter into partnerships or 
agreements with public or private entities dedicated to his-
toric preservation to facilitate the transfer, leasing, or 
adaptive use of structures or properties specified in sub-
section (b)(3)(D). 
‘‘(5) The authority of the Secretary under paragraph 
(1) expires on the date that is seven years after the date 
of the enactment of this section. 
‘‘(b)(1) There is established in the Treasury of the 
United States a revolving fund to be known as the Depart-
ment of Veterans Affairs Capital Asset Fund (hereinafter
in this section referred to as the ‘Fund’). Amounts in the 
Fund shall remain available until expended. 
‘‘(2) Proceeds from the transfer of real property 
under this section shall be deposited into the Fund. 
‘‘(3) To the extent provided in advance in appropria-
tions Acts, amounts in the Fund may be expended for the 
following purposes: 
‘‘(A) Costs associated with the transfer of real 
property under this section, including costs of demo-
lition, environmental remediation, maintenance and 
repair, improvements to facilitate the transfer, and 
administrative expenses. 
‘‘(B) Costs, including costs specified in sub-
paragraph (A), associated with future transfers of 
property under this section. 
‘‘(C) Costs associated with enhancing medical 
care services to veterans by improving, renovating, 
replacing, updating, and establishing patient care fa-
cilities through construction projects to be carried 
out for an amount less than the amount specified in 
8104(a)(3)(A) for a major medical facility project. 
‘‘(D) Costs, including costs specified in sub-
paragraph (A), associated with the transfer, lease or 
adaptive use of a structure or other property under
the jurisdiction of the Secretary that is listed on the 
National Register of Historic Places. 
‘‘(c) The Secretary shall include in the budget jus-
tification materials submitted to Congress for any fiscal 
year in support of the President’s budget for that year 
for the Department specification of the following: 
‘‘(1) The real property transfers to be under-
taken in accordance with this section during that fis-
cal year. 
‘‘(2) All transfers completed under this section 
during the preceding fiscal year and completed and 
scheduled to be completed during the year during 
which the budget is submitted. 
‘‘(3) The deposits into, and expenditures from, 
the Fund that are incurred or projected for each of 
the preceding fiscal year, the current fiscal year, and 
the fiscal year covered by the budget.’’. 
(2) The table of sections at the beginning of such 
chapter is amended by inserting after the item relating 
to section 8116 the following new item:
‘‘8117. Authority for transfer of real property; Capital Asset Fund.’’.
(b) INITIAL AUTHORIZATION OF APPROPRIATIONS.—
There is authorized to be appropriated to the Department 
of Veterans Affairs Capital Asset Fund established under 
section 8117 of title 38, United States Code (as added 
by subsection (a)), the amount of $10,000,000.
(c) TERMINATION OF NURSING HOME REVOLVING 
FUND.—(1) Section 8116 is repealed. 
(2) The table of sections at the beginning of chapter 
81 is amended by striking the item relating to section 
8116. 
(d) TRANSFER OF UNOBLIGATED BALANCES TO CAP-
ITAL ASSET FUND.—Any unobligated balances in the 
nursing home revolving fund under section 8116 of title 
38, United States Code, as of the date of the enactment 
of this Act shall be deposited in the Department of Vet-
erans Affairs Capital Asset Fund established under sec-
tion 8117 of title 38, United States Code (as added by 
subsection (a)). 
(e) PROCEDURES APPLICABLE TO TRANSFERS.—(1) 
Paragraph (2) of section 8122(a) is amended to read as 
follows: 
‘‘(2) Except as provided in paragraph (3), the Sec-
retary may not during any fiscal year transfer to any other 
department or agency of the United States or to any other 
entity real property that is owned by the United States 
and administered by the Secretary unless the proposed 
transfer is described in the budget submitted to Congress 
pursuant to section 1105 of title 31 for that fiscal year.’’. 
(2) Section 8122(d) is amended—