Description:
H.R. 4465 aims to better manage federal real property by reducing the inventory of such property and the cost of maintaining the remaining inventory. The bill would establish the Public Buildings Reform Board (board) to provide recommendations to the Office of Management and Budget (OMB) regarding specific federal properties that should be sold. The board would be charged with recommending specific operational efficiencies that could be implemented to reduce the inventory and cost of the government’s real estate holdings. The legislation also would authorize the appropriation of $2 million to fund the board and $40 million to implement the board’s recommendations.
Assuming appropriation of the specified amounts, CBO estimates that implementing H.R. 4465 would cost $8 million in 2017 and about $40 million over the 2017-2021 period. If the board’s recommendations lead to the sale of facilities, the legislation also would result in additional receipts. However, CBO has no basis to estimate whether the board’s recommendations would result in the sale of any properties that would not otherwise be sold under current law. Enacting the bill would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply.
CBO estimates that enacting H.R. 4465 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2027.
