Senate Panel Backs Bill For Sales Of US-Owned Property

Law360, New York (June 27, 2012, 2:33 PM EDT) -- A U.S. Senate committee voiced its support for a bill Wednesday that proposes a fast-track system to help federal agencies dispose of underused properties and direct those agencies to meet property sales goals.

Despite voicing strong support for the measure, a final vote on the Federal Real Property Asset Management Reform Act, also known as S. 2178, was postponed because the Senate Homeland Security and Governmental Affairs Committee lacked a quorum.

The bill would create a new disposal system for a five-year period to cut through...
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