On-Line Data Base of US Government Property Targets Land-Banking, Cuts Deficit

WASHINGTON (Sputnik) — Legislation awaiting outgoing President Barack Obama’s signature would require the government to publicly disclose all property holdings in an attempt to streamline the disposal or development of excess federal buildings, US Congressman Jeff Denham said in a press release on Tuesday.

"Empty buildings are costing taxpayers billions and should be divested or redeveloped to help pay down our national debt as quickly as possible," Denham explained.

Denham sponsored the legislation, which was approved earlier by the US House of Representatives, passed by the Senate over the weekend and sent to the White House this week for Obama’s signature.

"This bill ensures accountability and brings to an end agency land-banking at taxpayer expense," House Oversight and Government Reform Committee Chairman Jason Chaffetz said in a separate statement.

The legislation establishes a Public Buildings Reform Board tasked with making recommendations to sell or develop an estimated $8 billion worth of underutilized or vacant federal properties, the press release noted.