Sec. 5. Purchase transfers

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In this section: The term applicable committee of jurisdiction , with respect to an unaffected agency, means— the Committee on Appropriations of the Senate; the Committee on Appropriations of the House of Representatives; and any other committee of the Senate or the House of Representatives, the approval of which is required for the unaffected agency to acquire real property. The term unaffected agency means an agency that acquires real property pursuant to an authority other than the General Services Administration.

To be eligible to receive a purchase transfer from the Fund, a GSA-affected agency shall submit to the Administrator, the Committees on Appropriations and Environment and Public Works of the Senate, and the Committees on Appropriations and Transportation and Infrastructure of the House of Representatives a request that describes— the eligible agency project proposed to be carried out by the GSA-affected agency using the purchase transfer; and with respect to the eligible agency project described in subparagraph (A)— each Federal facility proposed to be included; an estimated total cost; and a proposed schedule.

To be eligible to receive a purchase transfer from the Fund, an unaffected agency shall submit to each applicable committee of jurisdiction a request that describes— the eligible agency project proposed to be carried out by the unaffected agency using the purchase transfer; and with respect to the eligible agency project described in subparagraph (A)— each Federal facility proposed to be included; an estimated total cost; and a proposed schedule. On approval by the Administrator of a request submitted by a GSA-affected agency under subsection (b)(1), the Administrator shall submit to Congress a notice of the approval in accordance with subsections

(b)and

(h)of section 3307 of title 40, United States Code. On receipt of a request for a purchase transfer from the Fund and the notice of approval by the Administrator for GSA-affected agencies required under paragraph (1), Congress may enact legislation— approving the applicable eligible agency project and the purchase transfer, subject to— for a request of a GSA-affected agency, subsections

(c)and

(d)of section 3307 of title 40, United States Code; or for a request of an unaffected agency, any applicable laws (including regulations); and appropriating an amount equal to the first repayment amount relating to the approved eligible agency project. The Administrator may transfer amounts in the Fund to an agency only if— Congress has enacted legislation pursuant to paragraph (2)(A) approving— the eligible agency project of the agency; and the purchase transfer; and the agency has— received appropriations pursuant to section 6(e) for the first repayment amount; and made the first repayment to the Fund in accordance with section 6. The Secretary of the Treasury, in consultation with the Director of the Office of Management and Budget and the head of the applicable purchasing agency, may establish within that purchasing agency new accounts for the purpose of facilitating budgetary and financial reporting of the transactions authorized by this Act. The total amount of a purchase transfer shall be not less than an amount equal to the sum of— the full cost of the relevant eligible agency project, which shall be not less than a useful segment of the applicable Federal facility; and the administrative fee required to be paid by the relevant purchasing agency under subsection (h), as determined by the Administrator. Subject to paragraph (2), a purchase transfer to a purchasing agency— shall remain available until expended; shall be used solely to pay the costs of an eligible agency project; and may not be transferred or reprogrammed for any other purpose. Any portion of a purchase transfer that is not necessary to pay for the total cost of an eligible agency project shall be returned to the Fund, as follows: Any unobligated purchase transfer amounts shall be returned to the Fund— after the relevant eligible agency project is substantially complete, as determined by the applicable purchasing agency; and by not later than 2 years after the date on which the most recent outlay of funds from the purchase transfer by the purchasing agency occurred. If, after the return of unused purchase transfer amounts under subparagraph (A), there occurs an upward adjustment to a previously incurred obligation for the eligible agency project, the Fund shall provide to the applicable purchasing agency an expenditure transfer for the upward adjustment in an amount equal to the lower of— the amount returned under subparagraph (A); and the amount of the upward adjustment to the previously incurred obligation. Notwithstanding any appropriations Act making amounts available for a purchase transfer under this section, if the amount made available to the applicable purchasing agency for the first repayment amount relating to the purchase transfer is less than the amount required by section 6(b) for the fiscal year, the amount transferred from the Fund to the purchasing agency shall be equal to the product obtained by multiplying— that first repayment amount; and the number of years in the applicable repayment period under section 6(c). The total amount appropriated for a fiscal year for new purchase transfers under this section shall be not more than an amount equal to the sum of— $2,500,000,000; and the total amount, if any, by which the amounts appropriated for purchase transfers during any preceding fiscal years were less than the amount described in subparagraph (A). If the amount appropriated from the Fund for a purchase transfer under this section is insufficient to pay the full costs of the eligible agency project that is the subject of the purchase transfer, an amount in excess of the appropriated amount may be transferred from the Fund to the applicable purchasing agency only if— the additional transfer is approved in advance by an appropriations Act; and the purchasing agency has— received an appropriation of an additional amount for the adjustment to the repayment amount under section 6(b)(2); and repaid to the Fund that additional repayment amount. Nothing in this section requires any unaffected agency to receive approval from the Administrator, or to achieve compliance with section 3307 of title 40, United States Code, before acquiring real property pursuant to an existing authority of the unaffected agency for purposes of this Act. In any fiscal year during which the total amount of purchase transfers approved to be appropriated from the Fund exceeds an amount equal to the lesser of the amount available in the Fund and the annual limitation described in subsection (f)(2) for that fiscal year— each purchase transfer approved by an appropriations Act for the fiscal year shall be reduced by a uniform percentage, to be calculated by the Administrator in a manner that ensures that the excess is eliminated; and the Administrator may not transfer from the Fund an amount equal to more than the reduced purchase transfer amount calculated under paragraph (1). On receipt of a purchase transfer, a purchasing agency shall pay to the Administrator from the purchase transfer a 1-time administrative fee in an amount equal to not less than 0.03 percent of the total cost of the eligible agency project that is the subject of the purchase transfer.