To amend title 40, United States Code, to modify the treatment of certain bargain-price options to purchase…

This act specifies that a bargain-price purchase option (i.e., the option to purchase property at less than fair market value) in a lease agreement for a federal building may be exercised only to the extent the option is specifically provided for in subsequent acts of Congress. The act applies to lease agreements that are entered into on or after January 1, 2021.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov