IIB 
118TH CONGRESS 
1ST SESSION 
H. R. 388 
IN THE SENATE OF THE UNITED STATES 
JANUARY 26, 2023 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
To amend title 40, United States Code, to eliminate the 
leasing authority of the Securities and Exchange Com-
mission, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Securities and Ex-
change Commission Real Estate Leasing Authority Rev-
ocation Act’’. 
SEC. 2. LEASING OF SPACE FOR SECURITIES AND EX-
CHANGE COMMISSION. 
(a) IN GENERAL.—Section 3304 of title 40, United 
States Code, is amended by adding at the end the fol-
lowing: 
‘‘(e) LEASING OF SPACE FOR SECURITIES AND EX-
CHANGE COMMISSION.—Notwithstanding any other provi-
sion of law, on and after the date of enactment of this 
subsection, the Securities and Exchange Commission may 
not lease general purpose office space. The Administrator 
may lease such space for the Securities and Exchange 
Commission under section 585 and this chapter.’’. 
(b) LIMITATION ON STATUTORY CONSTRUCTION.— 
The amendment made by subsection (a) may not be con-
strued to invalidate or otherwise affect a lease entered into 
by the Securities and Exchange Commission before the 
date of enactment of this Act. 
SEC. 3. INDEPENDENT LEASING AUTHORITIES. 
(a) IN GENERAL.—The Comptroller General of the 
United States shall submit to the Committee on Transpor-
tation and Infrastructure of the House of Representatives, 
the Committee on Environment and Public Works of the 
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Senate, and the Committee on Homeland Security and 
Governmental Affairs of the Senate a report on the review 
described in subsection (b). 
(b) REVIEW.—The Comptroller General shall com-
plete a review under which the Comptroller General shall 
update the 2016 report of the Comptroller General (GAO– 
16–648) with a specific focus on the following: 
(1) Updating the information included in Ap-
pendix II: Federal Entities That Reported Having 
Independent Leasing Authority for Domestic Offices 
and Warehouses of such report. 
(2) Determining to what extent Federal entities 
with independent leasing authorities have had such 
authorities rescinded or amended and the number 
and amount of office and warehouse space such enti-
ties lease. 
(3) Determining to what extent have agencies 
with independent leasing authority utilized the Gen-
eral Services Administration for leasing, including 
utilization of delegation of authority. 
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(4) Identifying progress made on implementing 
the recommendations in such report. 
Passed the House of Representatives January 25, 
2023. 
Attest: 
CHERYL L. JOHNSON, 
Clerk. 
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