Reversionary Interest Conveyance Act

Reversionary Interest Conveyance Act

This bill directs the Bureau of Land Management (BLM) to offer to sell the reversionary interest of the United States in approximately 8.43 acres of land in Sacramento, California, as generally depicted on a specified map dated November 7, 2022. Within two years of receiving a request from the owner of the land, the BLM must offer the reversionary interest and convey the reversionary interest to the buyer upon payment. The payment must be in an amount that is at least the fair market value of the reversionary interest. The buyer must also pay all costs related to the applicable conveyance of the reversionary interest, including all surveys, appraisals, and other administrative costs.

The bill subjects the conveyance to valid existing rights.

The proceeds from the sale must be deposited into Federal Land Disposal Account.

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 952 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 952

  To convey the reversionary interest of the United States in certain 
                    land in Sacramento, California.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            February 4, 2025

  Ms. Matsui introduced the following bill; which was referred to the 
                     Committee on Natural Resources

_______________________________________________________________________

                                 A BILL


 
  To convey the reversionary interest of the United States in certain 
                    land in Sacramento, California.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Reversionary Interest Conveyance 
Act''.

SEC. 2. CONVEYANCE OF UNITED STATES INTEREST IN CERTAIN LAND.

    (a) Definitions.--In this section:
            (1) Covered land.--The term ``covered land'' means the 
        approximately 8.43 acres of land under the administrative 
        jurisdiction of the Bureau of Land Management in Sacramento, 
        California, as generally depicted as ``Proposed Easements to be 
        Released'' on the map titled ``Lands Proposed for Release from 
        Any and All Reversionary Interests of the United States, 
        including interests under the Act of July 1, 1862 (12 Stat. 
        489)'', dated November 7, 2022.
            (2) Buyer.--(A) The term ``buyer'' means the owner of 
        record of any of the parcels included in the covered land at 
        the time of the requested conveyance.
            (B) Buyer may only request and purchase the covered land's 
        reversionary interest for the parcels of which the owner is the 
        owner of record at the time of request.
            (3) Reversionary interest.--The term ``reversionary 
        interest'' means all reversionary interests of the United 
        States in the covered land.
            (4) Secretary.--The term ``Secretary'' means the Secretary 
        of the Interior, acting through the Bureau of Land Management.
    (b) Conveyance.--Not later than two years after the Secretary 
receives a request from the buyer, the Secretary shall offer to the 
buyer the applicable reversionary interest subject to the requirements 
in subsection (c), and shall convey the lands to buyer upon payment of 
the appraised value.
    (c) Requirements.--Any conveyance under this section--
            (1) shall be subject to valid existing rights; and
            (2) shall be for not less than fair market value.
    (d) Payment of Fair Market Value.--The Secretary shall determine 
the fair market value of the applicable reversionary interest--
            (1) in accordance with the Federal Land Policy and 
        Management Act of 1976 (43 U.S.C. 1701 et seq.); and
            (2) based on an appraisal that is conducted in accordance 
        with--
                    (A) the Uniform Appraisal Standards for Federal 
                Land Acquisitions; and
                    (B) the Uniform Standards of Professional Appraisal 
                Practice.
    (e) Costs.--In addition to the fair market value determined under 
subsection (d), the buyer shall pay all costs related to the applicable 
conveyance of the reversionary inter est, including all surveys, 
appraisals, and other administrative costs.
    (f) Proceeds From the Sale of Land.--The proceeds from the sale of 
the applicable reversionary interest shall be--
            (1) deposited in the Federal Land Disposal Account 
        established by section 206(a) of the Federal Land Transaction 
        Facilitation Act (43 U.S.C. 2305(a)); and
            (2) used in accordance with that Act.

SEC. 3. STATUTORY CONSTRUCTION.

    Nothing in this Act shall--
            (1) diminish the right-of-way associated with the covered 
        land in section 2 to a width of less than 50 feet on each side 
        of the center of the main track or tracks established and 
        maintained by the Southern Pacific Transportation Company on 
        the date of the enactment of this Act; or
            (2) validate or confirm any right or title to, or interest 
        in the land referred to in section 2 arising out of adverse 
        possession, prescription, or abandonment, and not confirmed by 
        conveyance made by the Southern Pacific Transportation Company 
        before the date of the enactment of this Act.
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