[United States Statutes at Large, Volume 132, 115th Congress, 2nd Session]
[From the U.S. Government Publishing Office, www.gpo.gov]


Public Law 115-438
115th Congress

An Act


 
To amend the Federal Assets Sale and Transfer Act of 2016 to provide
flexibility with respect to the leaseback of certain Federal real
property, 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. LEASEBACK RESTRICTION.

Section 12(b)(4) of the Federal Assets Sale and Transfer Act of 2016
(40 U.S.C. 1303 note; Public Law 114-287) is amended--
(1) <>  by inserting ``for a period of
greater than 3 years'' before the period at the end;
(2) by striking ``None of the'' and inserting the following:
``(A) In general.--None of the''; and
(3) by adding at the end the following:
``(B) Requirements.--A leaseback under this
paragraph--
``(i) <>  shall expire
on or before the last day of the 3-year period
beginning on the date of the sale of the
respective property;
``(ii) may not contain any options to extend
or renew the leaseback;
``(iii) may only be entered into once for
purposes of temporarily housing the Federal agency
in the property at the time of the sale; and
``(iv) shall only be for the purpose of
facilitating the sale of the respective
property.''.

Approved January 14, 2019.

LEGISLATIVE HISTORY--H.R. 7319:
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CONGRESSIONAL RECORD, Vol. 164 (2018):
Dec. 21, considered and passed House.
Dec. 22, considered and passed Senate.