arrow_back Back to App

Leasing Underutilized Government Property: Faster Repairs and Savings

New legislation allows government agencies to lease out underutilized properties to generate funds for their repair and maintenance. This means that rental income can be directly used to improve the condition of buildings and infrastructure, potentially leading to better use of public resources and reducing the need for taxpayer funding for these activities.
Key points
Federal agencies can lease out underutilized properties, such as buildings or land, to other entities, including private companies or state and local governments.
Money obtained from leases will be used to cover lease-related costs and for repairs, upgrades, and maintenance of these properties.
The program is a pilot, running until September 30, 2024, with a limit of 6 leases per fiscal year and a maximum lease term of 15 years.
The act aims for more efficient management of government assets and generating funds for their upkeep, potentially benefiting taxpayers through better utilization of existing resources.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_S_2793
Sponsor: Sen. Peters, Gary C. [D-MI]
Process start date: 2021-09-22
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

SMART Leasing Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2793.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-09-22.

What are the main provisions?

Key points include:

  • Federal agencies can lease out underutilized properties, such as buildings or land, to other entities, including private companies or state and local governments.
  • Money obtained from leases will be used to cover lease-related costs and for repairs, upgrades, and maintenance of these properties.
  • The program is a pilot, running until September 30, 2024, with a limit of 6 leases per fiscal year and a maximum lease term of 15 years.
  • The act aims for more efficient management of government assets and generating funds for their upkeep, potentially benefiting taxpayers through better utilization of existing resources.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Peters, Gary C. [D-MI].

What is the latest detailed status?

The latest detailed status is: Passed Senate with an amendment by Unanimous Consent. (consideration: CR S7265-7266; text: CR S7266)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Public Investments Real Estate