[USC02] 40 USC 624: Information on certain leasing authorities
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40 USC 624: Information on certain leasing authorities Text contains those laws in effect on December 2, 2020
From Title 40-PUBLIC BUILDINGS, PROPERTY, AND WORKSSUBTITLE I-FEDERAL PROPERTY AND ADMINISTRATIVE SERVICESCHAPTER 5-PROPERTY MANAGEMENTSUBCHAPTER VII-PROPERTY MANAGEMENT

§624. Information on certain leasing authorities

(a) In General.-Except as provided in subsection (b), not later than December 31 of each year following the date of enactment of this subchapter, a Federal agency with independent leasing authority shall submit to the Council a list of all leases, including operating leases, in effect on the date of enactment of this subchapter that includes-

(1) the date on which each lease was executed;

(2) the date on which each lease will expire;

(3) a description of the size of the space;

(4) the location of the property;

(5) the tenant agency;

(6) the total annual rental payment; and

(7) the amount of the net present value of the total estimated legal obligations of the Federal Government over the life of the contract.


(b) Exception.-Subsection (a) shall not apply to-

(1) the United States Postal Service; or

(2) any other property the Director excludes from subsection (a) for reasons of national security.

(Added Pub. L. 114–318, §3(a), Dec. 16, 2016, 130 Stat. 1612 .)

References in Text

The date of enactment of this subchapter, referred to in subsec. (a), is the date of enactment of Pub. L. 114–318, which was approved Dec. 16, 2016.