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Restrictions on discounted government property purchases

New rules limit the ability to buy government properties at below market value. This means such transactions will require additional Congressional approval, potentially affecting the availability and terms for citizens acquiring these properties.
Key points
Options to purchase government property at a discounted price, included in lease agreements from January 1, 2021, can only be exercised with Congressional approval.
The change aims to increase control over the sale of public assets below market value.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_S_946
Sponsor: Sen. Lankford, James [R-OK]
Process start date: 2021-03-24
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A bill 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_S_946.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-24.

What are the main provisions?

Key points include:

  • Options to purchase government property at a discounted price, included in lease agreements from January 1, 2021, can only be exercised with Congressional approval.
  • The change aims to increase control over the sale of public assets below market value.
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. Lankford, James [R-OK].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

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

CATEGORIES

Real Estate Public Investments Courts and Law