Securities and Exchange Commission Real Estate Leasing Authority Revocation Act
Bill: H.R.1468 | Sponsor: Del. Norton, Eleanor Holmes (D-DC)
Policy area: Government Operations and Politics

Summary:
Securities and Exchange Commission Real Estate Leasing Authority Revocation Act
This bill revokes the authority of the Securities and Exchange Commission (SEC) to lease general purpose office space and instead provides for the General Services Administration to lease such space for the SEC. The bill's provisions do not affect those leases entered into by the SEC before this bill's enactment.
The Government Accountability Office must (1) complete a review under which it shall update a 2016 report with respect to independent leasing authorities, and (2) report to Congress on the review.

To amend title 40, United States Code, to eliminate the leasing 
  authority of the Securities and Exchange Commission, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Securities and Exchange Commission 
Real Estate Leasing Authority Revocation Act''.

SEC. 2. LEASING OF SPACE FOR SECURITIES AND EXCHANGE COMMISSION.

    (a) In General.--Section 3304 of title 40, United States Code, is 
amended by adding at the end the following:
    ``(e) Leasing of Space for Securities and Exchange Commission.--
Notwithstanding any other provision 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 construed 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 Transportation and Infrastructure of the 
House of Representatives, the Committee on Environment and Public Works 
of the 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 complete 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 Appendix 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 entities lease.
            (3) Determining to what extent have agencies with 
        independent leasing authority utilized the General Services 
        Administration for leasing, including utilization of delegation 
        of authority.
            (4) Identifying progress made on implementing the 
        recommendations in such report.

            Passed the House of Representatives September 14, 2022.

            Attest:

                                             CHERYL L. JOHNSON,

                                                                 Clerk.