A bill to provide for centralized management and disposal of seized and forfeited property, and for other purposes.

Requires the Administrator of General Services to establish policies and procedures for: (1) the care and custody of property seized by any Federal agency or forfeited to the United States; (2) the transfer of forfeited property among Federal agencies, Government corporations, the District of Columbia government, and certain requisitioning non-Federal agencies; and (3) the disposal of forfeited property. Requires the net proceeds from any disposition or transfer of forfeited property, with specified exceptions, to be covered into the Treasury as miscellaneous receipts.