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HR 3947 107th Congress House

Federal Property Asset Management Reform Act of 2002

Official title: To amend the Federal Property and Administrative Services Act of 1949 to enhance Federal asset management, and for other purposes.

Introduced: March 12, 2002 Introduced by: Sessions, Pete Republican · Texas See on congress.gov
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This bill died when the 107th Congress ended
It never became law before the 107th Congress (2001–2002) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 18, 2002
Subcommittee Hearings Held.
Apr 18, 2002
Referred to the Subcommittee on Economic Development, Public Buildings and Emergency Management.
Mar 14, 2002
Ordered to be Reported by Voice Vote.
Mar 14, 2002
Committee Consideration and Mark-up Session Held.
Mar 12, 2002
Referred to the Committee on Government Reform, and in addition to the Committee on Transportation and Infrastructure, 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.
Mar 12, 2002
Introduced in House
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 Latest action April 18, 2002

Subcommittee Hearings Held.

 Plain-English summary Congressional Research Service
Federal Property Asset Management Reform Act of 2002 - Amends the Federal Property and Administrative Services Act of 1949 to direct the Administrator of General Services to establish: (1) maintain, and apply current asset management principles to real and personal property; (2) performance measures to determine Federal real property management effectiveness; and (3) and maintain a single database of all Federal real property interests. Requires each Federal landholding agency to appoint a Senior Real Property Officer to monitor and administer real property assets. Authorizes landholding agencies to apply enhanced asset management tools, such as interagency transfers or exchanges, sales or exchanges with non-Federal sources, and subleases or outleases to other Federal agencies or non-Federal entities, for real property.

Permits a Federal agency to retain proceeds from the sale of personal property to recover the full costs incurred in disposing of such property. Provides for: (1) the crediting of monetary proceeds from the disposition of real and related personal property to existing agency accounts to pay for capital asset expenditures of that agency; and (2) implementation of such disposal and accounting requirements for FY 2003-2007.

Authorizes the: (1) conveyance of surplus Federal property to non-profit organizations for preservation purposes, and generally for public airport use; and (2) abandonment, destruction, or other disposal of property if it has no commercial value, or if costs of continued care and handling would exceed its fair market value.

Amends the McKinney-Vento Homeless Assistance Act to revise procedures for the consideration of surplus real property for homeless assistance.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
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APA
U.S. Congress. (2026). H.R. 3947: Federal Property Asset Management Reform Act of 2002. 107th Congress. Open America. https://openamerica.io/bill/107-HR-3947/
MLA
"H.R. 3947: Federal Property Asset Management Reform Act of 2002." 107th Congress, 2026, Open America, https://openamerica.io/bill/107-HR-3947/.
Bluebook (legal)
H.R. 3947, 107th Cong. (2026), https://openamerica.io/bill/107-HR-3947/.
Markdown link
[H.R. 3947: Federal Property Asset Management Reform Act of 2002](https://openamerica.io/bill/107-HR-3947/)
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