This bill specifies that a bargain-price purchase option (i.e., the option to purchase property at less than fair market value) in a lease agreement for a federal building may be exercised only to the extent the option is specifically provided for in subsequent acts of Congress. The bill applies to lease agreements that are entered into on or after January 1, 2021.
To amend title 40, United States Code, to modify the treatment of 
  certain bargain-price options to purchase at less than fair market 
                     value, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. LIMITATION ON DISCOUNTED PURCHASE OPTIONS.

    Section 585 of title 40, United States Code, is amended by adding 
at the end the following:
    ``(d) Limitation on Discounted Purchase Options.--Any bargain-price 
option to purchase at less than fair market value contained in any 
lease agreement entered into on or after January 1, 2021, pursuant to 
this section may be exercised only to the extent specifically provided 
for in subsequent appropriation Acts or other Acts of Congress.''.
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A bill to amend title 40, United States Code, to modify the treatment of certain bargain-price options to purchase at less than fair market value, and for other purposes.
A bill to amend title 40, United States Code, to modify the treatment of certain bargain-price options to purchase at less than fair market value, and for other purposes.
Official Titles - Senate
Official Title as Introduced
A bill to amend title 40, United States Code, to modify the treatment of certain bargain-price options to purchase at less than fair market value, and for other purposes.
Sen. Lankford, James