Summary

Requires six specified federal office buildings in Washington, D.C. to be vacated by the occupying federal agencies within 18 months and directs the General Services Administration (GSA) to sell each building for fair market value within two years after vacancy. Sales are barred to foreign persons, foreign entities, and entities with foreign beneficial owners as defined in federal law. Net proceeds from sales may be deposited into the Federal Buildings Fund to the extent the GSA Administrator determines necessary to implement the sales; any remaining proceeds are to be deposited in the Treasury general fund to reduce the deficit. Amounts placed in the Federal Buildings Fund would still need a future, specific appropriation to be spent. The measure also exempts the sales from certain statutory requirements and prohibits agencies from purchasing or leasing replacement space for the affected buildings.

• Agencies must vacate six specified federal buildings in Washington, D.C. within 18 months of enactment.
• GSA must sell each vacated building for fair market value within 2 years after vacancy.
• Sales are barred to foreign persons, foreign entities, or entities with foreign beneficial owners per federal law.
• Net proceeds may be placed into the Federal Buildings Fund as needed; remaining proceeds go to the Treasury general fund to reduce the deficit.
• Amounts placed in the Federal Buildings Fund still require a future, specific appropriation to be spent.
• Agencies affected are prohibited from buying or leasing replacement space under this measure.
• The GSA Administrator implements the sales, applies buyer restrictions, and determines deposits to the Federal Buildings Fund.
• Certain statutory requirements for property disposition are waived for these sales.
• No direct funding for agency relocations or replacement leases is provided in the measure.
• The law ties proceeds to deficit reduction after enabling limited reinvestment for implementation.