Reversionary Interest Conveyance Act

Floor Speech

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

This legislation would authorize the conveyance of certain reversionary interests in approximately 8.43 acres administered by the Bureau of Land Management in Sacramento.

Development at this site is currently hindered by reversionary interest that dates back to the 19th century. The original conveyance of this 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.

Making matters worse, the land changed hands over the years eventually without the knowledge of this requirement.

This bill would finally clear up the landownership by resolving the Federal Government's ownership claims in these parcels. Under the sale authorized by this bill, the current landowners would be given an opportunity to purchase the reversionary interests from the Federal Government so the landowners may pursue development or future conveyances of the land.

The bill will allow the city of Sacramento and Sacramento State University to move forward with the development of an innovative and dynamic research park.

This bill includes standard conveyance language, including the requirement to sell the reversionary interests at fair market value. The conveyance is supported by the Department of the Interior.

This transparent and targeted land conveyance would be a win-win for the Federal Government and the community in Sacramento.

I thank Representative Matsui for her leadership. She has been working on this bill for several years. I know her constituents appreciate the hard work and perseverance.

Mr. Speaker, I urge my colleagues to support the legislation, and I yield back the balance of my time.

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