To amend title 40, United States Code, to eliminate the leasing authority of the Securities and Exchange Commission, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
Removes the Securities and Exchange Commission's authority to independently lease office space, transferring that function to the General Services Administration. Also requires GAO to update its 2016 report on agencies with independent leasing authority.
Who Benefits and How
GSA benefits from consolidated control over federal leasing. Taxpayers may benefit from more standardized and potentially efficient leasing practices. Congress gains better oversight of federal real estate decisions.
Who Bears the Burden and How
SEC loses operational flexibility in managing its office space. SEC staff may face disruptions if GSA leasing processes differ from SEC practices.
Key Provisions
- Prohibits SEC from leasing general purpose office space after enactment
- Transfers SEC leasing authority to GSA Administrator
- Does not invalidate existing SEC leases
- Requires GAO report update on independent leasing authorities
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers.
At a Glance
What This Bill Does
Revokes SEC independent leasing authority, requiring GSA to handle SEC office space leasing
Who Benefits
- GSA
- Taxpayers
- Congressional oversight
Who Bears Costs
- SEC
- SEC employees
Key Policy Areas
Federal Real Property, SEC Administration, Government Oversight
Primary Purpose
Revokes SEC independent leasing authority, requiring GSA to handle SEC office space leasing
Policy Domains
Legislative Strategy
"Centralize federal leasing under GSA for better oversight and efficiency"
Legislative Progress
Passed HouseReceived; read twice and referred to the Committee on Banking, …
Ms. Norton introduced the following bill; which was referred to …
Passed House (inferred from eh version)
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_administrator"
- → Administrator of General Services
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology