Securities and Exchange Commission Real Estate Leasing Authority Revocation Act
Sponsor: Del. Norton, Eleanor Holmes [D-DC-At Large] · Latest action: 2025-01-14
This bill removes the SEC's independent authority to lease general purpose office space, transferring that role to the GSA Administrator, and requires a GAO report on independent leasing authorities.
Where it is in the pipeline
In progressSummary
The bill amends federal law to stop the Securities and Exchange Commission from leasing its own general purpose office space. Instead, the General Services Administration (GSA) Administrator would handle such leasing on the SEC's behalf. Existing leases signed before the law takes effect are unaffected. The bill also requires the Government Accountability Office (GAO) to update a 2016 report on federal agencies' independent leasing authorities.
Key provisions
- Bars the SEC from leasing general purpose office space on its own after enactment.
- Authorizes the GSA Administrator to lease such space for the SEC instead.
- Protects existing SEC leases signed before enactment from being invalidated.
- Requires GAO to update its 2016 report on federal agencies' independent leasing authorities, including rescinded authorities and GSA utilization.
Who is affected
- Securities and Exchange Commission
- General Services Administration
- Government Accountability Office
- Congressional oversight committees
Cost & funding
Not specified in the text
Read the official text on congress.gov.