Guaranteed COLA Act

Guaranteed COLA Act

This bill directs the General Services Administration (GSA) to sell buildings owned by the federal government that are not utilized. GSA must identify all such buildings and sell them not later than five years after they have been identified. The bill exempts buildings that have been set aside for preservation or historic purposes.

The bill requires the net revenues from the sale of such buildings to be made available to increase the cost-of-living adjustments to: (1) social security retirement benefits, and (2) retirement benefits for members and former members of the Armed Forces.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3614 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 3614

To direct the Administrator of General Services to establish a program 
to sell Federal buildings that are not utilized to provide revenue for 
increases in Social Security benefits and military retirement pay, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 28, 2017

 Mr. Poliquin introduced the following bill; which was referred to the 
 Committee on Oversight and Government Reform, and in addition to the 
 Committees on Ways and Means, and Armed Services, for a period to be 
subsequently determined by the Speaker, in each case for consideration 
  of such provisions as fall within the jurisdiction of the committee 
                               concerned

_______________________________________________________________________

                                 A BILL


 
To direct the Administrator of General Services to establish a program 
to sell Federal buildings that are not utilized to provide revenue for 
increases in Social Security benefits and military retirement pay, 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 ``Guaranteed COLA Act''.

SEC. 2. CERTAIN BUILDING SALES.

    (a) Establishment of Program.--The Administrator of General 
Services shall establish a program under which the Administrator shall 
sell all Federal buildings that are not utilized by the Federal 
Government.
    (b) Identification of Buildings.--
            (1) Initial identification.--Not later than 1 year after 
        the date of enactment of this Act, the Administrator shall make 
        an initial identification of all buildings owned and not 
        utilized by the Federal Government.
            (2) Regular identification.--After the date on which the 
        Administrator makes the initial identification under paragraph 
        (1), the Administrator shall identify on a continuing basis any 
        building owned and not utilized by the Federal Government that 
        was not included in such initial identification.
    (c) Sale Required.--Not later than 5 years after a building is 
identified under subsection (b), the Administrator, notwithstanding any 
other provision of law and to the extent practicable, shall complete a 
sale of--
            (1) such building; and
            (2) the land relevant to such building.
    (d) Limitation.--The Administrator shall not sell a building 
identified under subsection (b) if the building, or the land relevant 
to such building, has been set aside for preservation or historic 
purposes.
    (e) Revenues From Sale.--Notwithstanding any other provision of 
law, the revenue from a sale under subsection (c), after payment of any 
costs related to the sale, shall be made available only for the 
following:
            (1) To increase benefits under title II of the Social 
        Security Act, effective with the month of December 2017, by 
        applying section 215(i) of such Act as if the applicable 
        increase percentage with respect to the base quarter in 2017 
        (as determined under such section without regard to this 
        paragraph) is increased by an additional 1.5 percentage points.
            (2) Effective December 1, 2017, to make the cost-of-living 
        adjustment to the retired pay of members and former members of 
        the Armed Forces pursuant to section 1401a of title 10, United 
        States Code, as if the applicable percentage of the increase 
        calculated under subsection (b)(2) of such section (without 
        regard to this paragraph) is increased by an additional 1.5 
        percentage points.
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