Reversionary Interest Conveyance Act

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.

Mr. Speaker, I ask unanimous consent that all Members have 5 legislative days to revise and extend their remarks and to include extraneous material on H.R. 8956, the bill now under consideration.

Mr. Speaker, I yield myself such time as I may consume.

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.

Mr. Speaker, I have no further requests for time. I am prepared to close, and I reserve the balance of my time.

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.

Mr. Speaker, I yield myself such time as I may consume.

I rise in support of the Reversionary Interest Conveyance Act, introduced by my colleague from the Sacramento area in California, Representative Matsui.

Her bill would allow for the conveyance of certain Federal Government claims associated with approximately 8.43 acres of land administered by the Bureau of Land Management in Sacramento.

It is currently encumbered by what is known as a reversionary interest, in this case dating back to the 19th century.

The original conveyance of the land from the Federal Government stipulated that it must be used for specific stated purposes or ownership would revert back to the United States.

Lands with reversionary interests like these have what is called a clouded title, which limits allowable uses and development.

In this case, the reversionary interests originate from the initial conveyance that provided public land for railroad purposes in the 19th century, but the land changed hands over the years, eventually without knowledge of this requirement.

The bill aims to clear up the land ownership issue by resolving the Federal Government's ownership claims on these parcels. Under the sale authorized by the bill, landowners would be given the opportunity to purchase the reversionary interests from the government so that they can pursue development or future conveyances of the land.

Importantly, this bill has standard conveyance language, including a requirement to sell the interest at fair market value, and the authorized conveyance is supported by the Department of the Interior.

This is a win-win for the government and the community in Sacramento. Mr.

Speaker, I urge my colleagues to support this bill, and I reserve the balance of my time.

Mr. Speaker, I yield such time as she may consume to the gentlewoman from California (Ms. Matsui), the author of this bill.

Mr. Speaker, this is a great bill. I urge my colleagues to support it, and I yield back the balance of my time.

Mr. Speaker, I rise today in support of my bill, H.R. 8946, the Reversionary Interest Conveyance Act.

This bill provides a technical correction that will help unlock the innovative potential of Sacramento. It provides the BLM with the clear authority to convey 8\1/2\ acres of former railroad right-of-way in Sacramento.

This will allow the city of Sacramento, Sacramento State University, and their partners to continue moving forward on the Sacramento Center for Innovation, a research park that will allow Sacramento to retain and grow the level of talent the region needs to attract investment and business.

We support our innovators, our educators, and our businesses because we know that these economic drivers don't just support job and community growth today, they sustain them for generations. Because of this, I really support this bill. It is something that is very, very needed.

I thank the chair and ranking member for their support of this bill. I urge my colleagues to support this bill.