Reversionary Interest Conveyance Act

Floor Speech

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Mr. WESTERMAN. Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 8946) to convey the reversionary interest of the United States in certain land in Sacramento, California.

The Clerk read the title of the bill.

The text of the bill is as follows: H.R. 8946

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE.

This Act may be cited as the ``Reversionary Interest Conveyance Act''. SEC. 2. CONVEYANCE OF UNITED STATES INTEREST IN CERTAIN LAND.

(a) Definitions.--In this section:

(1) Covered land.--The term ``covered land'' means the approximately 8.43 acres of land under the administrative jurisdiction of the Bureau of Land Management in Sacramento, California, as generally depicted as ``Proposed Easements to be Released'' on the map titled ``Lands Proposed for Release from Any and All Reversionary Interests of the United States, including interests under the Act of July 1, 1862 (12 Stat. 489)'', dated November 7, 2022.

(2) Buyer.--(A) The term ``buyer'' means the owner of record of any of the parcels included in the covered land at the time of the requested conveyance.

(B) Buyer may only request and purchase the covered land's reversionary interest for the parcels of which the owner is the owner of record at the time of request.

(3) Reversionary interest.--The term ``reversionary interest'' means all reversionary interests of the United States in the covered land.

(4) Secretary.--The term ``Secretary'' means the Secretary of the Interior, acting through the Bureau of Land Management.

(b) Conveyance.--Not later than two years after the Secretary receives a request from the buyer, the Secretary shall offer to the buyer the applicable reversionary interest subject to the requirements in subsection (c), and shall convey the lands to buyer upon payment of the appraised value.

(c) Requirements.--Any conveyance under this section--

(1) shall be subject to valid existing rights; and

(2) shall be for not less than fair market value.

(d) Payment of Fair Market Value.--The Secretary shall determine the fair market value of the applicable reversionary interest--

(1) in accordance with the Federal Land Policy and Management Act of 1976 (43 U.S.C. 1701 et seq.); and

(2) based on an appraisal that is conducted in accordance with--

(A) the Uniform Appraisal Standards for Federal Land Acquisitions; and

(B) the Uniform Standards of Professional Appraisal Practice.

(e) Costs.--In addition to the fair market value determined under subsection (d), the buyer shall pay all costs related to the applicable conveyance of the reversionary inter est, including all surveys, appraisals, and other administrative costs.

(f) Proceeds From the Sale of Land.--The proceeds from the sale of the applicable reversionary interest shall be--

(1) deposited in the Federal Land Disposal Account established by section 206(a) of the Federal Land Transaction Facilitation Act (43 U.S.C. 2305(a)); and

(2) used in accordance with that Act. SEC. 3. STATUTORY CONSTRUCTION.

Nothing in this Act shall--

(1) diminish the right-of-way associated with the covered land in section 2 to a width of less than 50 feet on each side of the center of the main track or tracks established and maintained by the Southern Pacific Transportation Company on the date of the enactment of this Act; or

(2) validate or confirm any right or title to, or interest in the land referred to in section 2 arising out of adverse possession, prescription, or abandonment, and not confirmed by conveyance made by the Southern Pacific Transportation Company before the date of the enactment of this Act.

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Mr. WESTERMAN. 8956, the bill now under consideration.

Mr. Speaker, I rise today in support of Representative Matsui's bill, H.R. 8956, the Revisionary Interest Conveyance Act.

This bill will resolve a stubborn property law issue that has long afflicted a small parcel of land in California.

The private owners of an 8-acre property in Sacramento recently discovered a revisionary interest on their land, which was originally conveyed by a railroad company. The interest, which dates back to the days of the transcontinental railroad, technically requires the land to revert to the United States since it is no longer used for railroad purposes. With their land encumbered, the owners of this property are limited in their ability to develop or sell the land.

The Bureau of Land Management, which would receive the property through the reversion, does not want to manage the land in question. Since the agency can't extinguish the revisionary interest unilaterally, the BLM has encouraged Congress to pursue a legislative solution.

H.R. 8946 would resolve this conflict by requiring the Bureau of Land Management to convey the reversionary interest to the private landowners for fair market value. In so doing, this bill will free up the land for economic development and prevent further Federal interference.

That is a good governance bill that supports a local community, encourages economic development, and reduces the burden on the Federal Government. I applaud Representative Matsui for advancing this solution on behalf of her constituents.

Mr. Speaker, I support this bill, and I reserve the balance of my time.

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Mr. WESTERMAN. Mr. Speaker, I have no further requests for time.

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Mr. WESTERMAN. Mr. Speaker, this is straightforward legislation that will extricate property owners and the Federal Government from a legal quagmire. I support this bill and note that it passed out of the Committee on Natural Resources by unanimous consent.

Mr. Speaker, I urge adoption of this bill, and I yield back the balance of my time.

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