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.

[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 742 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 742

 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.


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                    IN THE HOUSE OF REPRESENTATIVES

                            February 2, 1993

  Mr. Synar (for himself and Mr. Miller of California) 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:
            ``(28) 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 1994 and shall be fully reflected in the fiscal year 1994 budget 
submitted by the President in February 1993 as required by section 
1105(a) of title 31, United States Code.

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