Public Law 117–257: 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.Public Law257Public Law 117–257136 Stat. 23712022-12-212022-12-21United States Government Publishing OfficeNational Archives and Records AdministrationOffice of the Federal Registertext/xmlENPursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.GPO Locator to USLM Converter 4.15.31;Stage2.202507022026-01-02117publicPUBLIC LAW 117–257—DEC. 21, 2022136 STAT. 2371Public Law117–257117th CongressAn ActTo 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.
Dec. 21, 2022
[H.R. 2220]
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,SECTION 1. LIMITATION ON DISCOUNTED PURCHASE OPTIONS.Section 585 of title 40, United States Code, is amended by adding at the end the following:“(d) Any bargain-price option to purchase at less than fair market value contained in any lease agreement entered into on or after January 1, 2021, pursuant to this section may be exercised only to the extent specifically provided for in subsequent appropriation Acts or other Acts of Congress.”.ApprovedDecember 21, 2022.LEGISLATIVE HISTORY—H.R. 2220:HOUSE REPORTS: ┐No. 117–159 (Comm. on Transportation and Infrastructure).
CONGRESSIONAL RECORD:Vol. 167 (2021):