Number: RL33774
Title: Federal Buildings Funding Limitations and Their Implications
Authors: Stephanie Smith, Government and Finance Division 
Abstract: Capital reinvestment is one of the largest challenges confronting GSA officials, who have described their buildings inventory as predominantly aging, with maintenance and repair needs that far exceed available Federal Building Fund (FBF) revenues. Legislation enacted in the 108th Congress authorized the GSA Administrator to convey real property by sale, lease, exchange, or buyback agreements, with net proceeds deposited into the FBF for future real property capital acquisitions and improvements. The FY2008 Consolidated Appropriations Act, signed into law on December 26, 2007, authorizes that an additional amount of $84 million be deposited in the Federal Buildings Fund. The President's FY2009 budget requests that $525 million be deposited in the FBF.
Pages: 23
Date: March 21, 2008