‘‘(2) Master leases under this subsection may be for
such period as the Administrator determines appropriate.
‘‘(3) The Administrator may dispose of equity inter-
est controlled by the United States in any public-private
partnership created under this section whenever deter-
mined by the Administrator to be beneficial to the United
States, if the Administrator receives the estimated fair
market value of such interests. Proceeds from such dis-
posal shall be deposited into the fund created by section
210(f).
‘‘(4) Real property leased under this subsection shall
not be considered unutilized or underutilized for purposes
of section 501 of the Stewart B. McKinney Homeless As-
sistance Act and may be leased under this subsection with-
out regard to any other provision of law.
‘‘(d) Notwithstanding any other provision of law, the
Administrator, or his or her designee, may provide services
to a public-private partnership created under this section
on such terms as the Administrator considers appropriate.
‘‘(e)(1) Notwithstanding any other provision of law,
the Administrator may retain and use any revenues de-
rived from agreements entered into under this section for
the physical improvement of Federal real property.
‘‘(2) At the discretion of the Administrator, revenues
from master leases authorized by this section shall be de-
posited into the fund established by section 210(f), or de-
posited into the general fund of the Treasury as miscella-
neous receipts.
‘‘(3) Net revenues received by the Administrator from
public-private partnerships created under this section,
other than proceeds from master leases of real property,
shall be deposited in the fund established by section
210(f).
‘‘(f) Upon request of the head of an executive agency,
the Administrator shall delegate to the head of the execu-
tive agency authority of the Administrator under sub-
sections (a) through (e).
‘‘(g) The Administrator shall prepare and transmit
to the Congress a business plan regarding each agreement
with a nongovernmental person under this section not
later than 30 days before the date on which the Adminis-
trator enters into the agreement. The business plan shall
identify the property that the Administrator proposes to
make available under the agreement, an explanation of the
agreement, the name, resources, and qualifications of the
nongovernmental person, the factors in support of the pro-
posed project, and performance measures by which the
proposed project will be measured.
‘‘(h) The Administrator shall describe, in the budget
submitted by the President pursuant to section 1105 of
title 31, United States Code, the projected economic per-
formance, including expenditures and receipts, arising
from agreements entered into pursuant this section.
‘‘(i) In this section:
‘‘(1) The term ‘nongovernmental person’ means
a person that is not an executive agency.
‘‘(2) The term ‘master lease’ means a convey-
ance of Federal real property to a public-private
partnership created under this section through a
lease entered into by the Administrator with the
public-private partnership.’’.
SEC. 202. REPORTS.
(a) OFFICE
OF
THE ADMINISTRATOR.—Not later
than 5 years after the date of enactment of this Act, the
Administrator of General Services shall submit to the Con-
gress a report on the use by executive agencies of the au-
thorities provided by this Act. The report shall—
(1) assess the effectiveness of the authority to
enter into agreements to enhance the value of the
properties subject to the agreements; and
(2) review the performance measures included
in the explanatory statements submitted pursuant to
section 201.
(b) REPORT OF THE COMPTROLLER GENERAL.—Not
later than 5 years after the date of enactment of this Act,
the Comptroller General of the United States shall submit
to the Congress a report on the use by executive agencies
of the authorities provided by this Act.
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