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40 U.S.C. § 624 - U.S. Code - Unannotated Title 40. Public Buildings, Property, and Works § 624. Information on certain leasing authorities

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - 40 U.S.C. § 624 - U.S. Code - Unannotated Title 40. Public Buildings, Property, and Works § 624. Information on certain leasing authorities - last updated January 01, 2024 | https://codes.findlaw.com/us/title-40-public-buildings-property-and-works/40-usc-sect-624/

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