§ 4. IMMEDIATE, HIGHEST-LEVEL, AND BENEFICIAL OWNERS.

350 words·~2 min read·/usc/title-40/section-4

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Plan .— The General Services Administration, in coordination with the Office of Management and Budget, shall develop a Government-wide plan for agencies (as such term is defined in section 551 of title 5 , United States Code) for identifying all immediate, highest-level, or beneficial owners of high-security leased spaces before entering into a lease agreement with a covered entity for the accommodation of a Federal tenant in a high-security leased space. Requirements.— Contents .— The plan described in subsection

(a)shall include a process for collecting and utilizing the following information on each immediate, highest-level, or beneficial owner of a high-security leased space: Name. Current residential or business street address. An identifying number or document that verifies identity as a United States person, foreign person, or foreign entity. The plan described in subsection

(a)shall— require the disclosure of any immediate, highest-level, or beneficial owner that is a foreign person; require that, if the Federal lessee is assigning the building or other improvement that will be used for high-security space to a Federal tenant, the Federal tenant shall be notified of the disclosure described in subparagraph (A); and exclude collecting ownership information on widely held pooled-investment vehicles, mutual funds, trusts, or other pooled-investment vehicles. Report and Implementation .— The General Services Administration shall— not later than 1 year after the date of enactment of this Act [ Dec. 31, 2020 ], submit the plan described in subsection

(a)to the Committee on Homeland Security and Governmental Affairs of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives; not later than 2 years after the date of enactment of this Act, implement the plan described in subsection (a); and not later than 1 year after the implementation of the plan described in subsection (a), and each year thereafter for 9 years, submit a report to the Committee on Homeland Security and Governmental Affairs of the Senate and the Committee on Transportation and Infrastructure of the House of Representatives on the status of the implementation of the plan, including the number of disclosures made under subsection (b)(2).