Selling and Leasing Inactive Federal Buildings to Reduce National Deficit
This Act mandates the sale or long-term lease of six specified federal buildings in Washington, D.C., to generate revenue. Proceeds will first cover the costs of relocating government agencies, and any surplus will be deposited into the Treasury's general fund to help reduce the national deficit.
Key points
Mandatory Disposal: Six specified federal buildings (including Frances Perkins, James V. Forrestal) must be sold or ground-leased for up to 99 years.
Deficit Reduction: Net proceeds, after covering agency relocation costs, will be deposited into the general fund of the Treasury for the purpose of reducing the deficit.
Foreign Ownership Ban: Buildings cannot be sold or leased to foreign persons, foreign entities, or entities where a foreign person is a beneficial owner.
Exemptions: The disposal is exempt from certain legal requirements, including those related to homeless assistance (McKinney-Vento Act) and environmental/historic preservation (NEPA, NHPA).
Agency Relocation: Federal agencies will be moved, with the GSA Administrator having sole discretion over new locations, but prohibited from entering into 'build-to-suit' leases for new construction.
Introduced
Citizen Poll