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119-hr-952119th CongressWALLET

Reversionary Interest Conveyance Act

Sponsored By: Representative Matsui, Doris O. [D-CA-7]

Became Law

Summary

Transfers the United States' reversionary interest in about 8.43 acres in Sacramento to current parcel owners who purchase it at fair market value. The Bureau of Land Management must offer and convey the reversionary interest to the owner of record within two years of a request. Buyers must pay at least the fair market value as appraised under the Federal Land Policy and Management Act and cover surveys, appraisals, and administrative costs. Proceeds are deposited into the Federal Land Disposal Account. Conveyances remain subject to valid existing rights and do not confirm claims from adverse possession or prescription. A railroad right-of-way is preserved at not less than 50 feet on each side of the main track center.

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 1 benefits, 1 costs, 1 mixed.

Sacramento land transfers preserve railroad access

The law cannot shrink the covered railroad right-of-way below 50 feet on each side of the main track's center. This protection applies to the main track or tracks Southern Pacific Transportation Company established and maintained when the law took effect.

Sacramento land claims remain unconfirmed

The law does not confirm claims to covered land based on long-term possession, long use, or abandonment. The exception covers interests confirmed by a Southern Pacific Transportation Company transfer before the law took effect. This limits what the law itself confirms; it does not say other claims are erased.

Sacramento owners can buy federal land rights

The law lets owners buy the federal government's rights to reclaim covered land totaling about 8.43 acres in Sacramento, California. Only the recorded owner when requesting a purchase can buy the rights for that parcel. The Interior Department, through the Bureau of Land Management, must offer the rights within two years after receiving the request. Buyers pay at least appraised fair market value, plus all survey, appraisal, and administrative costs. Interior determines value under federal land law, using federal land acquisition appraisal standards and professional appraisal standards. The government must transfer the rights after payment, subject to valid existing rights. Sale proceeds go into the Federal Land Disposal Account for use under the Federal Land Transaction Facilitation Act.

Sponsors & CoSponsors

Sponsor

Matsui, Doris O. [D-CA-7]

CA • D

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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