S 946
117th Congress
Senate
Government Operations and Politics
Government buildings, facilities, and property
Public contracts and procurement
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.
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 24, 2021
Read twice and referred to the Committee on Environment and Public Works.
Mar 24, 2021
Introduced in Senate
Plain-English summary
This bill specifies that a bargain-price purchase option (i.e., the option to purchase property at less than fair market value) in a lease agreement for a federal building may be exercised only to the extent the option is specifically provided for in subsequent acts of Congress. The bill applies to lease agreements that are entered into on or after January 1, 2021.
What's happening now
Read twice and referred to the Committee on Environment and Public Works.
Committees of jurisdiction
1
Cosponsors
1