text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``Federal Asset Management Improvement 
  Act of 2001''.
  
                   TITLE I--IMPROVED PROPERTY MANAGEMENT
  
  SEC. 101. PERFORMANCE MEASUREMENT.
  
      (a) Performance Measures Required.--
              (1) In general.--The Administrator, in consultation with 
          the heads of executive agencies, shall establish performance 
          measures to determine the effectiveness of Federal property 
          management. The performance measures shall be designed to--
                      (A) enable the Congress and heads of executive 
                  agencies to track progress in the achievement of 
                  property management objectives on a governmentwide 
                  basis; and
                      (B) allow for comparing the performance of 
                  executive agencies against industry and other public 
                  sector agencies in terms of performance.
              (2) Use of existing data and data collection tools.--In 
          developing and implementing the performance measures, the 
          Administrator shall use existing data sources and automated 
          data collection tools to the maximum extent practical.
      (b) Executive Agencies.--The head of each executive agency shall--
              (1) monitor the performance of the agency against the 
          performance measures established under subsection (a); and
              (2) report the results of such monitoring to the Congress 
          in the agency's budget submission under section 1105 of title 
          31, United States Code.
      (c) Management Plan.--Within 90 days after the date of the 
  enactment of this Act, the Administrator of General Services shall 
  submit to the Congress a program management plan describing--
              (1) how the program established by this Act will be 
          implemented;
              (2) individuals who will exercise operational authority 
          over the program;
              (3) the qualifications of such individuals; and
              (4) a timeline for implementation of the program.
  
                   TITLE II--PUBLIC-PRIVATE PARTNERSHIPS
  
  SEC. 201. PUBLIC-PRIVATE PARTNERSHIP AUTHORITY.
  
      Title II of the Federal Property and Administrative Services Act of 
  1949 (40 U.S.C. 481 et seq.) is amended by adding at the end the 
  following:
      ``Sec. 213. (a) The Administrator may enter into agreements for the 
  creation of one or more public-private partnerships with a 
  nongovernmental person, the purpose of which shall be (1) to lease 
  Federal real property under the terms of subsection (c), and (2) to 
  develop, rehabilitate, or renovate facilities on such leased property 
  for the use, in whole or part, by executive agencies. The public-
  private partnership may be a limited liability company, limited 
  partnership, corporation, business trust, or other form of entity, as 
  the Administrator may designate. The nongovernmental person shall 
  exercise control of the management of the public-private partnership, 
  and shall hold a majority interest in ownership and profits of the 
  public-private partnership.
      ``(b) Each agreement entered into pursuant to this section--
              ``(1) shall have as its primary purpose the enhancement of 
          the functional and economic efficiency of Federal real 
          property;
              ``(2) shall be negotiated pursuant to such procedures as 
          the Administrator considers necessary to promote competition 
          and protect the public interest;
              ``(3) shall provide a lease option to the United States to 
          occupy space in the facilities acquired, constructed, or 
          rehabilitated by the public-private partnership, but shall not 
          guarantee occupancy by the United States;
              ``(4) shall describe the consideration, duties, and 
          responsibilities for which the United States and the 
          nongovernmental person are responsible and may provide for the 
          alteration, repair, or improvement of the real property as part 
          or all of the consideration of the nongovernmental person, 
          notwithstanding any provision of law, including the Act of June 
          30, 1932 (chapter 314; 40 U.S.C. 303b);
              ``(5) shall provide--
                      ``(A) that the United States shall not be liable 
                  for any actions, debts, or liability of any person 
                  created by such agreement; and
                      ``(B) that no person is authorized by the agreement 
                  to execute any instrument or document creating or 
                  evidencing any indebtedness unless such instrument or 
                  document specifically disclaims any liability of the 
                  United States under the instrument or document; and
              ``(6) shall provide that the leasehold interests of the 
          United States are senior to that of any lender to the 
          nongovernmental person.
  Paragraph (6) shall not impair the ability of a public-private 
  partnership to pledge as collateral its leasehold interest under a 
  lease with the United States entered into pursuant to the terms of 
  subsection (c).
      ``(c)(1) Notwithstanding any other provision of law, including 
  sections 202 and 203 of this Act, the Administrator may lease real 
  property to a public-private partnership created under this section in 
  furtherance of agreements under subsection (a).
      ``(2) Master leases under this subsection may be for such period as 
  the Administrator determines appropriate.
      ``(3) The Administrator may dispose of equity interest controlled 
  by the United States in any public-private partnership created under 
  this section whenever determined by the Administrator to be beneficial 
  to the United States, if the Administrator receives the estimated fair 
  market value of such interests. Proceeds from such disposal shall be 
  deposited into the fund created by section 210(f).
      ``(4) Real property leased under this subsection shall not be 
  considered unutilized or underutilized for purposes of section 501 of 
  the Stewart B. McKinney Homeless Assistance Act and may be leased under 
  this subsection without regard to any other provision of law.
      ``(d) Notwithstanding any other provision of law, the 
  Administrator, or his or her designee, may provide services to a 
  public-private partnership created under this section on such terms as 
  the Administrator considers appropriate.
      ``(e)(1) Notwithstanding any other provision of law, the 
  Administrator may retain and use any revenues derived from agreements 
  entered into under this section for the physical improvement of Federal 
  real property.
      ``(2) At the discretion of the Administrator, revenues from master 
  leases authorized by this section shall be deposited into the fund 
  established by section 210(f), or deposited into the general fund of 
  the Treasury as miscellaneous receipts.
      ``(3) Net revenues received by the Administrator from public-
  private partnerships created under this section, other than proceeds 
  from master leases of real property, shall be deposited in the fund 
  established by section 210(f).
      ``(f) Upon request of the head of an executive agency, the 
  Administrator shall delegate to the head of the executive agency 
  authority of the Administrator under subsections (a) through (e).
      ``(g) The Administrator shall prepare and transmit to the Congress 
  a business plan regarding each agreement with a nongovernmental person 
  under this section not later than 30 days before the date on which the 
  Administrator enters into the agreement. The business plan shall 
  identify the property that the Administrator proposes to make available 
  under the agreement, an explanation of the agreement, the name, 
  resources, and qualifications of the nongovernmental person, the 
  factors in support of the proposed project, and performance measures by 
  which the proposed project will be measured.
      ``(h) The Administrator shall describe, in the budget submitted by 
  the President pursuant to section 1105 of title 31, United States Code, 
  the projected economic performance, including expenditures and 
  receipts, arising from agreements entered into pursuant this section.
      ``(i) In this section:
              ``(1) The term `nongovernmental person' means a person that 
          is not an executive agency.
              ``(2) The term `master lease' means a conveyance of Federal 
          real property to a public-private partnership created under 
          this section through a lease entered into by the Administrator 
          with the public-private partnership.''.
  
  SEC. 202. REPORTS.
  
      (a) Office of the Administrator.--Not later than 5 years after the 
  date of enactment of this Act, the Administrator of General Services 
  shall submit to the Congress a report on the use by executive agencies 
  of the authorities provided by this Act. The report shall--
              (1) assess the effectiveness of the authority to enter into 
          agreements to enhance the value of the properties subject to 
          the agreements; and
              (2) review the performance measures included in the 
          explanatory statements submitted pursuant to section 201.
      (b) Report of the Comptroller General.--Not later than 5 years 
  after the date of enactment of this Act, the Comptroller General of the 
  United States shall submit to the Congress a report on the use by 
  executive agencies of the authorities provided by this Act.
target: Federal Asset Management Improvement Act of 2001 - Directs the: (1) Administrator of General Services to establish performance measures to determine the effectiveness of Federal property management; (2) head of each executive agency to monitor their agency's performance against such measures and report results to Congress; and (3) Administrator to submit to Congress a Federal property management plan.Amends the Federal Property and Administrative Services Act of 1949 to authorize the Administrator to enter into agreements for the creation of one or more public-private partnerships to: (1) lease Federal real property; and (2) develop, rehabilitate, or renovate facilities on such property for use by executive agencies. Requires the Administrator to prepare and submit to Congress at least 30 days before entering into such an agreement a business plan regarding each agreement.
feat_title: To authorize public-private partnerships to rehabilitate Federal real property, and for other purposes.