arrow_back Back to App

Limiting discounted government property purchase options.

This new law changes how the government can sell its properties. Options to buy at less than fair market value, included in lease agreements since 2021, can now only be exercised if Congress specifically approves it in separate laws. This means more oversight on public asset sales.
Key points
Discounted government property purchase options now require specific Congressional approval.
This change applies to lease agreements entered into on or after January 1, 2021.
Increased transparency and control over public asset transactions.
article Official text account_balance Process page
VOTING RESULTS
2021-11-04
99%
For 416
Against 4
Abstain 0
Full voting results open_in_new
Became Law
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_2220
Sponsor: Rep. Guest, Michael [R-MS-3]
Process start date: 2021-03-26
Voting date: 2021-11-04
Meeting no: 1
Voting no: 363
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

To amend title 40, United States Code, to modify the treatment of certain bargain-price options to purchase at less than fair market value, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_2220.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-26.

What are the main provisions?

Key points include:

  • Discounted government property purchase options now require specific Congressional approval.
  • This change applies to lease agreements entered into on or after January 1, 2021.
  • Increased transparency and control over public asset transactions.
What is the specific legal status?

The current status is Became Law.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Where is the official voting record?

The official roll call vote is recorded at: voting record

Who is the primary sponsor?

The primary sponsor is Rep. Guest, Michael [R-MS-3].

What is the latest detailed status?

The latest detailed status is: Became Public Law No: 117-257.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Real Estate Public Investments Courts and Law