Sec. 1. Leaseback restriction
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Section 12(b)(4) of the Federal Assets Sale and Transfer Act of 2016 ( 40 U.S.C. 1303 note; Public Law 114–287 ) is amended— by inserting for a period of greater than 3 years before the period at the end; by striking None of the and inserting the following: None of the ; and by adding at the end the following: A leaseback under this paragraph— shall expire on or before the last day of the 3-year period beginning on the date of the sale of the respective property; may not contain any options to extend or renew the leaseback; may only be entered into once for purposes of temporarily housing the Federal agency in the property at the time of the sale; and shall only be for the purpose of facilitating the sale of the respective property. .
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- Pub. L. 114-287
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