118THCONGRESS
1
STSESSION H. R. 388
AN ACT
To amend title 40, United States Code, to eliminate the
leasing authority of the Securities and Exchange Com-
mission, and for other purposes.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2 2
•HR 388 EH
SECTION 1. SHORT TITLE. 1
This Act may be cited as the ‘‘Securities and Ex-2
change Commission Real Estate Leasing Authority Rev-3
ocation Act’’. 4
SEC. 2. LEASING OF SPACE FOR SECURITIES AND EX-5
CHANGE COMMISSION. 6
(a) I
NGENERAL.—Section 3304 of title 40, United 7
States Code, is amended by adding at the end the fol-8
lowing: 9
‘‘(e) L
EASING OFSPACE FORSECURITIES ANDEX-10
CHANGECOMMISSION.—Notwithstanding any other provi-11
sion of law, on and after the date of enactment of this 12
subsection, the Securities and Exchange Commission may 13
not lease general purpose office space. The Administrator 14
may lease such space for the Securities and Exchange 15
Commission under section 585 and this chapter.’’. 16
(b) L
IMITATION ONSTATUTORYCONSTRUCTION.— 17
The amendment made by subsection (a) may not be con-18
strued to invalidate or otherwise affect a lease entered into 19
by the Securities and Exchange Commission before the 20
date of enactment of this Act. 21
SEC. 3. INDEPENDENT LEASING AUTHORITIES. 22
(a) I
NGENERAL.—The Comptroller General of the 23
United States shall submit to the Committee on Transpor-24
tation and Infrastructure of the House of Representatives, 25
the Committee on Environment and Public Works of the 26 3
•HR 388 EH
Senate, and the Committee on Homeland Security and 1
Governmental Affairs of the Senate a report on the review 2
described in subsection (b). 3
(b) R
EVIEW.—The Comptroller General shall com-4
plete a review under which the Comptroller General shall 5
update the 2016 report of the Comptroller General (GAO– 6
16–648) with a specific focus on the following: 7
(1) Updating the information included in Ap-8
pendix II: Federal Entities That Reported Having 9
Independent Leasing Authority for Domestic Offices 10
and Warehouses of such report. 11
(2) Determining to what extent Federal entities 12
with independent leasing authorities have had such 13
authorities rescinded or amended and the number 14
and amount of office and warehouse space such enti-15
ties lease. 16
(3) Determining to what extent have agencies 17
with independent leasing authority utilized the Gen-18
eral Services Administration for leasing, including 19
utilization of delegation of authority. 20 4
•HR 388 EH
(4) Identifying progress made on implementing 1
the recommendations in such report. 2
Passed the House of Representatives January 25,
2023.
Attest:
Clerk. 118
TH
CONGRESS
1
ST
S
ESSION
H. R. 388
AN ACT
To amend title 40, United States Code, to eliminate
the leasing authority of the Securities and Ex-
change Commission, and for other purposes.