To amend title 40, United States Code, to modify the treatment of certain bargain-price options to purchase at less than fair market value, and for other purposes.
USA117th CongressHR-2220| House
| Updated: 12/21/2022
Michael Guest
Republican Representative
Mississippi
Cosponsors (2)
Transportation and Infrastructure Committee, Environment and Public Works Committee, Economic Development, Public Buildings, and Emergency Management Subcommittee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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.
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Timeline
Bill from Previous Congress
HR 116-5137To amend title 40, United States Code, to modify the treatment of certain bargain-price options to purchase at less than fair market value, and for other purposes.
Introduced in House
Referred to the House Committee on Transportation and Infrastructure.
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Subcommittee on Economic Development, Public Buildings, and Emergency Management Discharged.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by Voice Vote.
Placed on the Union Calendar, Calendar No. 116.
Reported by the Committee on Transportation and Infrastructure. H. Rept. 117-159.
Mr. Pappas moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H6144)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2220.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H6200)
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 416 - 4 (Roll no. 363). (text: 11/3/2021 CR H6144)
View VoteMotion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Environment and Public Works.
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
Passed Senate without amendment by Unanimous Consent. (consideration: CR S6912)
Senate Committee on Environment and Public Works discharged by Unanimous Consent.
Message on Senate action sent to the House.
Presented to President.
Signed by President.
Became Public Law No: 117-257.
Government Operations and Politics
Government buildings, facilities, and propertyPublic contracts and procurement
To amend title 40, United States Code, to modify the treatment of certain bargain-price options to purchase at less than fair market value, and for other purposes.
USA117th CongressHR-2220| House
| Updated: 12/21/2022
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.
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Bill from Previous Congress
HR 116-5137To amend title 40, United States Code, to modify the treatment of certain bargain-price options to purchase at less than fair market value, and for other purposes.
Introduced in House
Referred to the House Committee on Transportation and Infrastructure.
Referred to the Subcommittee on Economic Development, Public Buildings, and Emergency Management.
Subcommittee on Economic Development, Public Buildings, and Emergency Management Discharged.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported by Voice Vote.
Placed on the Union Calendar, Calendar No. 116.
Reported by the Committee on Transportation and Infrastructure. H. Rept. 117-159.
Mr. Pappas moved to suspend the rules and pass the bill.
Considered under suspension of the rules. (consideration: CR H6144)
DEBATE - The House proceeded with forty minutes of debate on H.R. 2220.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H6200)
On motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 416 - 4 (Roll no. 363). (text: 11/3/2021 CR H6144)
View VoteMotion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Environment and Public Works.
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
Passed Senate without amendment by Unanimous Consent. (consideration: CR S6912)
Senate Committee on Environment and Public Works discharged by Unanimous Consent.
Message on Senate action sent to the House.
Presented to President.
Signed by President.
Became Public Law No: 117-257.
Michael Guest
Republican Representative
Mississippi
Cosponsors (2)
Transportation and Infrastructure Committee, Environment and Public Works Committee, Economic Development, Public Buildings, and Emergency Management Subcommittee
Government Operations and Politics
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Government buildings, facilities, and propertyPublic contracts and procurement