S211-118

1. Short title This Act may be cited as the Saving Money and Accelerating Repairs Through Leasing Act or the SMART Leasing Act.

2. Enhanced use lease pilot program In this section: The term Administrator means the Administrator of General Services. The term pilot program means the enhanced use lease pilot program established under subsection (b). The term relevant congressional committees means— the Committee on Homeland Security and Governmental Affairs of the Senate; the Committee on Environment and Public Works of the Senate; the Committee on Oversight and Accountability of the House of Representatives; and the Committee on Transportation and Infrastructure of the House of Representatives. The Administrator may establish an enhanced use lease pilot program under which the Administrator may authorize Federal agencies to enter into a lease with any person or entity (including another department or agency of the Federal Government or an entity of a State or local government) with regard to any underutilized nonexcess real property and related personal property under the jurisdiction of the Administrator. A person or entity entering into a lease under the pilot program shall provide monetary consideration for the lease at fair market value, as determined by the Administrator. The Administrator may use monetary consideration received under this subsection for a lease entered into under the pilot program to cover the full costs to the Administrator in connection with the lease. 50 percent of the amounts of monetary consideration received under this subsection that are not used in accordance with subparagraph (A) shall— be deposited in a working capital account to be established by the Federal agency engaged in the lease of the property; and remain available until expended for maintenance, capital revitalization, and improvements of the real property assets and related personal property at the Federal agency, subject to the concurrence of the Administrator. 50 percent of the amounts of monetary consideration received under this subsection that are not used in accordance with subparagraph (A) shall be deposited in the general fund of the Treasury for the sole purpose of deficit reduction. The Administrator may require such terms and conditions in connection with a lease under the pilot program as the Administrator considers appropriate to protect the interests of the United States. The authority under the pilot program to lease property under the jurisdiction of the Administrator is in addition to any other authority under Federal law to lease property under the jurisdiction of the Administrator. A property leased under the pilot program shall not be subject to section 501 of the McKinney-Vento Homeless Assistance Act (42 U.S.C. 11411) before leasing the property under such pilot program. The Administrator may not lease back property under the pilot program during the term of the lease or enter into guaranteed service or similar contracts with the lessee relating to the property. The Administrator may not enter into a lease under the pilot program unless the Administrator certifies that the lease will not have a negative impact on the mission of the Administrator or the applicable Federal agency. The Administrator may enter into not more than 6 leases under the pilot program during each fiscal year. The Administrator may not enter into a lease under the pilot program with a term of more than 15 years. The Administrator may not enter into a lease under the pilot program with any individual or entity that— intends to carry out, under the lease— activities that are illegal— to conduct in Federal facilities; or under Federal law; or activities for which Federal funding is prohibited; is a political organization described in section 527 of the Internal Revenue Code of 1986; is owned, operated, or controlled by a foreign government; or received any Federal grant, contract, or award from the applicable Federal agency engaged in the lease that is still in the performance period. No lease entered into under the pilot program may be used to carry out lobbying activities (as defined in section 3 of the Lobbying Disclosure Act of 1995 (2 U.S.C. 1602)). Not later than January 31 of each year until the year after the year in which authority to enter into leases under the pilot program expires under subsection (i)(1), the Administrator shall submit to the relevant congressional committees a report on the pilot program, including— a description of each lease entered into under the pilot program, including the value of the lease, the amount of consideration received, and the use of the consideration received; and the availability and use of the funds received under the pilot program for the Administrator or the Federal agency engaged in the lease of nonexcess real property and related personal property. Not later than 2 years after the date of enactment of this Act, the Administrator shall submit to the relevant congressional committees a final report on the pilot program, including a recommendation on whether the pilot program should be extended. The authority to enter into leases under the pilot program shall expire on the date that is 2 years after the date of enactment of this Act. The expiration under this subsection of authority to enter into leases under the pilot program shall not affect the validity or term of leases or the retention of proceeds by the Federal agency from leases entered into under the pilot program before the expiration of the authority.