Sec. 7. Treatment of eligible agency projects and Federal facilities
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/bill/117/s/1926/is/section-7A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Disposition of an eligible agency project and any Federal facility that is the subject of an eligible agency project shall be carried out in accordance with— applicable laws (including regulations); and this subsection. If the disposition of an eligible agency project or Federal facility described in paragraph
(1)occurs before the applicable purchasing agency has completed the obligation of the purchasing agency to make any repayment to the Fund under section 6, the purchasing agency shall continue to make the required repayments until the date on which the Fund is fully repaid, subject to the availability of appropriations. If the disposition of an eligible agency project or Federal facility described in paragraph
(1)results in the receipt of sale proceeds, those proceeds shall be available— initially, to the applicable purchasing agency to pay any remaining unpaid repayments owed by the purchasing agency to the Fund; and thereafter, for the purpose of supporting authorized real property activities (excluding operations and maintenance)— to the applicable purchasing agency, in the case of a purchasing agency that is an unaffected agency (as defined in section 5(a)); or to the Administrator, in the case of an asset held in the inventory of the General Services Administration under subsection (c). Any proceeds from a sale under subparagraph (A)— shall be available until expended, without further appropriation; and may be deposited in any account of the applicable purchasing agency or the General Services Administration, as applicable, that is available for the purposes described in clauses
(i)and
(ii)of subparagraph (A). A change in the mission need of a purchasing agency for an eligible agency project or Federal facility that is the subject of an eligible agency project, and any change in the condition of such an eligible agency project or Federal facility, shall not affect any applicable repayment obligation relating to the eligible agency project under section 6. In this subsection: The term Administration means the General Services Administration. The term covered property means any asset acquired through the Administration by a purchasing agency using a purchase transfer. On acquisition by a GSA-affected agency of any covered property, the covered property shall be— placed in the inventory of the Administration; and considered to be under the custody and control of the Administrator, subject to the requirements of this subsection. On receipt by a GSA-affected agency of amounts pursuant to a purchase transfer for the acquisition of any covered property, the GSA-affected agency— except as provided in clause (ii), shall transfer the purchase transfer amount to the Administrator for deposit in the Federal Buildings Fund under section 592 of title 40, United States Code; but may retain such portion of the purchase transfer amount as is necessary for acquisition by the GSA-affected agency of associated furniture, fixtures, and equipment necessary to furnish the Federal facility for initial occupancy in accordance with subparagraph (B). The Administrator or a GSA-affected agency shall use the amounts transferred under subparagraph (A)(i) or retained under subparagraph (A)(ii), respectively, only to pay the costs of the eligible agency project associated with the covered property. The Administrator may not charge any fee for the execution of an eligible agency project on covered property pursuant to subparagraph (B), other than the 1-time administrative fee described in section 5(h). The Administrator and the head of the applicable GSA-affected agency shall enter into an occupancy agreement with respect to any covered property acquired by the GSA-affected agency that— recognizes the investment of the GSA-affected agency in the covered property and the associated eligible agency project by providing for shell rent abatement, in accordance with paragraph (5); and establishes that the purchasing agency shall continue to be responsible for making annual repayments to the Fund in accordance with section 6 with respect to the covered property. The shell rent abatement provisions under paragraph (4)(A) relating to an occupancy agreement with respect to covered property shall include requirements that rental payments shall— be made by the GSA-affected agency to the Administration immediately on occupancy of the covered property by the GSA-affected agency; for the 5-year period beginning on the initial date of occupancy of the covered property by the GSA-affected agency, be in an amount equal to the operating costs during the rental payment period of the GSA-affected agency relating to the covered property; and effective during the period beginning on the date immediately after the period described in subparagraph
(B)and ending on the date that is 25 years after the initial date of occupancy of the covered property by the GSA-affected agency, be in an amount equal to the sum of— the operating costs during the rental payment period of the GSA-affected agency relating to the covered property; and such reduced shell rental rate as the GSA-affected agency and the Administrator may negotiate, subject to the requirement that the cumulative difference between the appraised market rent rate of the covered property and the reduced shell rental rate shall be equal to not more than the amount of the applicable purchase transfer.