Federal Investment Recovery, Economic Security and Liquidation Examination and Disclosure Act

Federal Investment Recovery, Economic Security and Liquidation Examination and Disclosure Act - Amends Federal law to require the President to include in the annual budget a statement of projected revenues obtained from the anticipated sale, lease, and transfer of Government assets and the estimated price at which the assets would be sold in the private sector.

 
HR 752 IH
102d CONGRESS
1st Session
 H. R. 752
To amend chapter 11 of title 31, United States Code, to require that the
annual budget submitted by the President includes a statement of revenues
obtained from the sale, lease, and transfer of Government assets, and for
other purposes.
IN THE HOUSE OF REPRESENTATIVES
January 30, 1991
Mr. SYNAR (for himself and Mr. PANETTA) introduced the following bill;
which was referred to the Committee on Government Operations
A BILL
To amend chapter 11 of title 31, United States Code, to require that the
annual budget submitted by the President includes a statement of revenues
obtained from the sale, lease, and transfer of Government assets, and for
other purposes.
  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 `Federal Investment Recovery, Economic Security
  and Liquidation Examination and Disclosure Act'.
SEC. 2. REVENUES FROM SALE, LEASE, AND TRANSFER OF ASSETS.
  Section 1105(a) of chapter 11 of title 31, United States Code, is amended
  by inserting at the end the following new paragraph:
  `(27) a separate statement of--
  `(A) projected revenues during the fiscal year for which the budget is
  submitted from the anticipated sale, lease, or transfer of any physical
  asset; and
  `(B) the estimated price at which this asset or a comparable asset would
  be sold in an arms length transaction in the private sector;
asset by asset and aggregated by major functional category.'.
SEC. 3. EFFECTIVE DATE.
  The amendment made by section 2 shall become effective for fiscal year 1993
  and shall be fully reflected in the fiscal year 1993 budget submitted by
  the President in February 1992 as required by section 1105(a) of title 31,
  United States Code.