Requires the Director of the Office of Management and Budget (OMB) to conduct a five-year Federal Real Property Disposal Pilot Program for the expedited disposal of real property that is not meeting federal government needs.
Requires agencies to recommend candidate disposition properties to the Director. Prohibits real property from being sold under the program: (1) for less than fair market value; (2) if it will not generate monetary proceeds to the federal government exceeding disposal costs; or (3) in a non-cash transaction.