Title 40 — Public Buildings, Property, and WorksRelease 119-73not60

§624 Information on Certain Leasing Authorities

Title 40 › Subtitle SUBTITLE I— FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES › Chapter 5— PROPERTY MANAGEMENT › Subchapter VII— PROPERTY MANAGEMENT › § 624

Last updated Apr 5, 2026|Official source

Summary

Agencies that can sign leases on their own must send the Council, by December 31 each year after the law passed, a list of every lease they had on the law’s enactment date. The list must give when each lease was signed and when it ends, the space size and location, the tenant agency, the annual rent, and the lease’s net present value of the government’s total estimated financial obligations over the lease. The United States Postal Service and any property the Director excludes for national security do not have to be listed.

Full Legal Text

Title 40, §624

Public Buildings, Property, and Works — Source: USLM XML via OLRC

(a)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)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.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

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.

Reference

Citations & Metadata

Citation

40 U.S.C. § 624

Title 40 — Public Buildings, Property, and Works

Last Updated

Apr 5, 2026

Release point: 119-73not60