§8118 Authority for transfer of real property; Department of Veterans Affairs Capital Asset Fund

Summary

The Secretary may give or sell real property the VA controls — including buildings and equipment — to other federal agencies, states or local governments, public or private groups, or Indian tribes. The VA must get at least the fair market value unless the property goes to a grant-and-per-diem provider (defined in section 2002), in which case no payment or a reduced payment is allowed. If such a provider gets property for less than fair market value, the transfer must say the property goes back to the United States if it is used for anything other than grant-and-per-diem purposes. The Secretary can use this authority even if certain Title 40 rules (sections 521, 522, 541–545) would normally apply, but not for cases covered by section 8164. The Secretary may work with historic preservation groups to help transfer, lease, or reuse historic VA properties. This authority ends on September 30, 2026. A Department of Veterans Affairs Capital Asset Fund is created in the Treasury and the money stays available until spent. Proceeds from these property transfers go into the Fund. With funds approved in advance by Congress, the money can pay transfer costs (demolition, cleanup, maintenance, repairs, improvements, and admin), costs for future transfers, smaller patient-care construction or renovation projects (under the amount in 8104(a)(3)(A) for a major project), and costs tied to National Register historic property transfers or reuse. Each year the Secretary must include planned transfers, recent and scheduled completed transfers, and Fund deposits and spending in the VA budget documents to Congress.