S. 1492, a bill to direct the Administrator of the General Services, on behalf of the Archivist of the United States, to convey certain Federal property located in the State of Alaska to the Municipality of Anchorage, Alaska

S. 1492 would authorize the General Services Administration (GSA), on behalf of the National Archives and Records Administration (NARA) to sell certain property in Anchorage, Alaska, for its fair market value. According to NARA and GSA, the federal government acquired this undeveloped property in 2005 for $3.5 million.

CBO expects that the property will be sold under current law at some point over the next ten years because the agency has closed its operating facilities in Alaska. Because the legislation could accelerate the process of selling the property, and thus collection of sale proceeds (which are treated as offsets to direct spending), pay-as-you-go procedures apply. However, CBO estimates that there would be no net effect on direct spending over the 2016-2025 period. Enacting the bill would not affect revenues. CBO estimates that enacting S. 1462 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2026.

S. 1492 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would benefit the municipality of Anchorage, Alaska. Any costs to the municipality resulting from the land conveyance would be incurred voluntarily.

On April 23, 2015, CBO transmitted a cost estimate for H.R. 336, a bill to direct the Administrator of the General Services, on behalf of the Archivist of the United States, to convey certain Federal property located in the State of Alaska to the Municipality of Anchorage, Alaska, as ordered reported by the House Committee on Transportation and Infrastructure on April 15, 2015. The two pieces of legislation are similar, and CBO’s estimate of their budgetary effects are the same.