Sec. 4. Exchanges of real property via enhanced-use lease
137 words·~1 min read·
/bill/119/s/2988/is/section-4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 8162(b) of title 38, United States Code, is amended by striking paragraphs
(2)through
(6)and inserting the following: For any enhanced-use lease entered into by the Secretary, the lease consideration provided to the Secretary shall consist solely of cash at fair value as determined by the Secretary, except in the case of an exchange of leased properties assessed to be of similar value. The Secretary may enter into an enhanced-use lease without receiving consideration. The Secretary may not waive or postpone the obligation of a lessee to pay any consideration under an enhanced-use lease, including monthly rent. The terms of an enhanced-use lease may provide for the Secretary to use minor construction funds for capital contribution payments. The Office of Management and Budget shall review each enhanced-use lease before the lease goes into effect. .