2011 US Code
Title 40 - Public Buildings, Property, and Works
Subtitle I - FEDERAL PROPERTY AND ADMINISTRATIVE SERVICES (§§ 101 - 1315)
Chapter 5 - PROPERTY MANAGEMENT (§§ 501 - 611)
Subchapter V - OPERATION OF BUILDINGS AND RELATED ACTIVITIES (§§ 581 - 593)
Section 585 - Lease agreements

(a) In General.—

(1) Authority.—The Administrator of General Services may enter into a lease agreement with a person, copartnership, corporation, or other public or private entity for the accommodation of a federal agency in a building (or improvement) which is in existence or being erected by the lessor to accommodate the federal agency. The Administrator may assign and reassign the leased space to a federal agency.

(2) Terms.—A lease agreement under this subsection shall be on terms the Administrator considers to be in the interest of the Federal Government and necessary for the accommodation of the federal agency. However, the lease agreement may not bind the Government for more than 20 years and the obligation of amounts for a lease under this subsection is limited to the current fiscal year for which payments are due without regard to section 1341(a)(1)(B) of title 31.

(b) Sublease.—

(1) Application.—This subsection applies to rent received if the Administrator—

(A) determines that an unexpired portion of a lease of space to the Government is surplus property; and

(B) disposes of the property by sublease.

(2) Use of rent.—Notwithstanding section 571(a) of this title, the Administrator may deposit rent received into the Federal Buildings Fund. The Administrator may defray from the fund any costs necessary to provide services to the Government's lessee and to pay the rent (not otherwise provided for) on the lease of the space to the Government.

(c) Amounts for Rent Available for Lease of Buildings on Government Land.—Amounts made available to the General Services Administration for the payment of rent may be used to lease space, for a period of not more than 30 years, in buildings erected on land owned by the Government.

(Pub. L. 107–217, Aug. 21, 2002, 116 Stat. 1112.)

In subsection (b)(2), the words “Federal Buildings Fund” are substituted for “buildings management fund” because the fund established under 40:490(f)(1) is the Federal Buildings Fund and unexpended balances in the Buildings Management Fund were merged into the Federal Buildings Fund under 40:490(f)(3).

Act July 30, 1947, ch. 358, title III, §306, 61 Stat. 584, provided in part that: “Wholly owned Government corporations requiring space in office buildings at the seat of government shall occupy only such space as may be allotted in accordance with the provisions of such Act of March 1, 1919, as amended [ch. 86, §10, 40 Stat. 1269] ([former] 40 U.S.C. 1), and shall pay such rental thereon as may be determined by the Federal Works Administrator [Administrator of General Services], such rental to include all cost of maintenance, upkeep, and repair.”