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Securities and Exchange Commission Real Estate Leasing Authority Revocation Act
Summary
This bill eliminates the Securities and Exchange Commission's authority to lease general purpose office space. Starting upon enactment, the General Services Administration will handle leasing office space for the SEC instead. The bill does not affect leases the SEC already had in place before the act became law. Additionally, it requires the Comptroller General to review and report on federal agencies that have independent leasing authority, including which agencies have had that authority rescinded or limited, how much space they lease, and the extent to which they use the General Services Administration for leasing.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
Actions (11)
- Jan 14, 2025 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Jan 13, 2025 Motion to reconsider laid on the table Agreed to without objection. · house
- Jan 13, 2025 On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H104) · house
- Jan 13, 2025 Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H104)
- Jan 13, 2025 DEBATE - The House proceeded with forty minutes of debate on H.R. 189. · house
- Jan 13, 2025 Considered under suspension of the rules. (consideration: CR H104-105) · house
- Jan 13, 2025 Mr. Graves moved to suspend the rules and pass the bill. · house
- Jan 4, 2025 Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management. · house
- Jan 3, 2025 Referred to the House Committee on Transportation and Infrastructure. · house
- Jan 3, 2025 Introduced in House
- Jan 3, 2025 Sponsor introductory remarks on measure. (CR E1)
More bills on these subjects (8)
Other bills that carry the most legislative subjects in common with this one (topical discovery — distinct from the procedural related bills above).
Text versions (3)
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Full text
AN ACT
To amend title 40, United States Code, to eliminate the leasing authority of the Securities and Exchange Commission, 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. SHORT TITLE.
This Act may be cited as the “Securities and Exchange Commission Real Estate Leasing Authority Revocation Act”.
SEC. 2. LEASING OF SPACE FOR SECURITIES AND EXCHANGE COMMISSION.
(a) In General.—Section 3304 of title 40, United States Code, is amended by adding at the end the following:
“(e) Leasing of Space for Securities and Exchange Commission.— Notwithstanding any other provision of law, on and after the date of enactment of this subsection, the Securities and Exchange Commission may not lease general purpose office space. The Administrator may lease such space for the Securities and Exchange Commission under section 585 and this chapter.”.
(b) Limitation on Statutory Construction.—The amendment made by subsection (a) may not be construed to invalidate or otherwise affect a lease entered into by the Securities and Exchange Commission before the date of enactment of this Act.
SEC. 3. INDEPENDENT LEASING AUTHORITIES.
(a) In General.—The Comptroller General of the United States shall submit to the Committee on Transportation and Infrastructure of the House of Representatives, the Committee on Environment and Public Works of the Senate, and the Committee on Homeland Security and Governmental Affairs of the Senate a report on the review described in subsection
(b).
(b) Review.—The Comptroller General shall complete a review under which the Comptroller General shall update the 2016 report of the Comptroller General (GAO-16-648) with a specific focus on the following:
(1) Updating the information included in Appendix II: Federal Entities That Reported Having Independent Leasing Authority for Domestic Offices and Warehouses of such report.
(2) Determining to what extent Federal entities with independent leasing authorities have had such authorities rescinded or amended and the number and amount of office and warehouse space such entities lease.
(3) Determining to what extent have agencies with independent leasing authority utilized the General Services Administration for leasing, including utilization of delegation of authority.
(4) Identifying progress made on implementing the recommendations in such report.
Passed the House of Representatives January 13, 2025.
Attest:
Clerk. 119th CONGRESS
1st Session
H. R. 189
AN ACT
To amend title 40, United States Code, to eliminate the leasing authority of the Securities and Exchange Commission, and for other purposes.
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