§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 or local governments, tribes, or public or private groups. The VA must get at least the fair market value, except when the transfer is to a grant-and-per-diem provider (an organization that helps house or serve veterans), in which case less or no payment is allowed. If such a provider gets property for less than fair market value, the VA must make the property return to the United States if it stops being used for veterans’ services under chapter 20. The Secretary may do these transfers even if other federal property rules (title 40, sections 521, 522, and 541–545) apply, but transfers must follow this law and section 8122. This transfer authority cannot be used where section 8164 applies. The Secretary may work with historic-preservation partners to help transfer, lease, or reuse historic VA properties. The authority in paragraph (1) ends on December 11, 2026. The law creates the Department of Veterans Affairs Capital Asset Fund in the U.S. Treasury. Money from property transfers goes into the Fund and stays available until spent. With money Congress approves in advance, the Fund may pay costs of transfers (like demolition, cleanup, maintenance, repairs, improvements, and administrative costs); pay for future transfers; pay to improve or build patient care facilities for projects smaller than the major medical facility threshold in 8104(a)(3)(A); and pay costs for transferring or reusing properties listed on the National Register of Historic Places. Each year the VA must tell Congress which transfers it plans that year, which transfers were completed or scheduled the prior year, and the Fund’s deposits and spending for the prior, current, and budget years.