TITLE

Military Base Closures: Observations on Legislative Proposal for No-Cost Transfer of Surplus Property: T-NSIAD-99-215

PUB. DATE
July 1999
SOURCE
GAO Reports;7/1/1999, p1
SOURCE TYPE
Government Documents
DOC. TYPE
Article
ABSTRACT
Proposed legislation before Congress would amend the base closure law and promote the economic development of affected communities by transferring property to them without consideration. Affected communities receiving property under an economic development conveyance (EDC) could receive that property at no cost if certain conditions were met. Currently, EDCs are available at or below fair-market value and at no cost for rural communities. The proposal involves a trade-off between recouping the value of surplus property and giving communities an opportunity to hasten their economic recovery. GAO found that the proposed legislation could speed the EDC process. The Defense Department, however, would lose revenue if the proposed amendment is enacted.
ACCESSION #
18227568

 

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