S. 3678Senate115th Congress (2017-2019)In Committee

A bill to amend the Federal Assets Sale and Transfer Act of 2016 to provide flexibility with respect to the leaseback of certain Federal real property, and for other purposes.

AI-Generated Summary

Updated April 16, 2026 at 12:20 AM UTC

This bill changes the Federal Assets Sale and Transfer Act of 2016 to tighten rules on leasing back federal property after it’s sold. It limits any leaseback to a maximum of three years, bans renewal options, and allows only a single leaseback that can be used to temporarily house the selling agency while the sale is completed. The changes affect federal agencies that sell real estate and any private parties that might lease the property back from the government.

Key Provisions

Adds language requiring any leaseback to end within three years of the sale date.
Prohibits leaseback agreements from containing options to extend or renew the lease.
Allows only one leaseback per property, solely for temporarily housing the federal agency at the time of sale.
Specifies that leasebacks are permitted only to facilitate the sale of the property.

Legislative Activity

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1 earlier action

SenateIntro Referral Latest Action

Read twice and referred to the Committee on Environment and Public Works.

Environment and Public Works Committee

November 29, 2018

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SenateIntro Referral

Introduced in Senate

November 29, 2018

SenateIntro Referral

Read twice and referred to the Committee on Environment and Public Works.

Environment and Public Works Committee

November 29, 2018

Bill Text

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Introduced in SenateIssued November 29, 2018

115th CONGRESS

2d Session

S. 3678

IN THE SENATE OF THE UNITED STATES

November 29, 2018

Mr. Peters (for himself and Mr. Lankford) introduced the following bill; which was read twice and referred to the Committee on Environment and Public Works

A BILL

To amend the Federal Assets Sale and Transfer Act of 2016 to provide flexibility with respect to the leaseback of certain Federal real property, and for other purposes.

Leaseback restriction

Section 12(b)(4) of the Federal Assets Sale and Transfer Act of 2016 (40 U.S.C. 1303 note; Public Law 114–287) is amended—

(1)

by inserting for a period of greater than 3 years before the period at the end;

(2)

by striking None of the and inserting the following:

(A)

In general

None of the

; and

(3)

by adding at the end the following:

(B)

Requirements

A leaseback under this paragraph—

(i)

shall expire on or before the last day of the 3-year period beginning on the date of the sale of the respective property;

(ii)

may not contain any options to extend or renew the leaseback;

(iii)

may only be entered into once for purposes of temporarily housing the Federal agency in the property at the time of the sale; and

(iv)

shall only be for the purpose of facilitating the sale of the respective property.