§8118 Authority for Transfer of Real Property; Department of Veterans Affairs Capital Asset Fund

Summary

The Secretary can transfer VA land, buildings, and related equipment to other federal agencies, states, local governments, Indian tribes, or public or private groups. The VA must get at least the fair market value, unless the transfer is to a grant-and-per-diem provider (as defined in section 2002). If given for less than fair market value to such a provider, the VA must include a rule that the property returns to the United States if it is used for anything other than the chapter 20 purposes. Transfers can be done even if other federal property rules in title 40 (sections 521, 522, and 541–545) would normally apply, but the transfers must follow this law and section 8122. The authority cannot be used when section 8164 applies. The Secretary may partner with historic preservation groups to help transfer, lease, or adapt historic VA properties. This transfer authority ends on September 30, 2026. A Department of Veterans Affairs Capital Asset Fund is set up in the Treasury. Money from property transfers goes into the Fund and stays there until spent. With money approved by Congress, the Fund can pay transfer costs (like demolition, cleanup, repairs, improvements, and admin), pay for future transfers, pay for smaller medical construction projects under the amount in 8104(a)(3)(A), and help with historic-property transfers or reuse. Each year the Secretary must report in the VA budget request the transfers planned for that year, transfers finished in the past year and those finished or scheduled in the current year, and the Fund’s deposits and spending for the past, current, and budget years.