Senate Bill 946
117th Congress(2021-2022)
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.
Introduced
Introduced in Senate on Mar 24, 2021
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
946
Congress
117
Policy Area
Government Operations and Politics
Government Operations and Politics
Primary focus of measure is government administration, including agency organization, contracting, facilities and property, information management and services; rulemaking and administrative law; elections and political activities; government employees and officials; Presidents; ethics and public participation; postal service. Measures concerning agency appropriations and the budget process may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
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.
March 24, 2021
03/24/2021
Read twice and referred to the Committee on Environment and Public Works.
03/24/2021
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:47:35 PM