((a)) ** .—** The Administrator may enter into a lease under this section with any person or entity (including another department or agency of the Federal Government or an entity of a State or local government) with regard to any non-excess real property and related personal property under the jurisdiction of the Administrator.

((b))

((1)) ** .—**

((A)) A person or entity entering into a lease under this section shall provide cash consideration for the lease at fair market value as determined by the Administrator.

((B)) Notwithstanding subparagraph (A), the Administrator may accept in-kind consideration for leases entered into for the purpose of developing renewable energy production facilities.

((2))

((A)) ** .—** The Administrator may utilize amounts of cash consideration received under this subsection for a lease entered into under this section to cover the full costs to the Administration in connection with the lease. These funds shall remain available until expended.

((B)) ** .—** Of any amounts of cash consideration received under this subsection that are not utilized in accordance with subparagraph (A)—

((i)) 35 percent shall be deposited in a capital asset account to be established by the Administrator, shall be available for maintenance, capital revitalization, and improvements of the real property assets and related personal property under the jurisdiction of the Administrator, and shall remain available until expended; and

((ii)) the remaining 65 percent shall be available to the respective center or facility of the Administration engaged in the lease of nonexcess real property, and shall remain available until expended for maintenance, capital revitalization, and improvements of the real property assets and related personal property at the respective center or facility subject to the concurrence of the Administrator.

((C)) ** .—** Amounts utilized under subparagraph (B) may not be utilized for daily operating costs.

((c)) ** .—** The Administrator may require such terms and conditions in connection with a lease under this section as the Administrator considers appropriate to protect the interests of the United States.

((d)) ** .—** The authority under this section to lease property of the Administration is in addition to any other authority to lease property of the Administration under law.

((e))

((1)) ** .—** The Administration is not authorized to lease back property under this section during the term of the out-lease or enter into other contracts with the lessee respecting the property.

((2)) ** .—** The Administration is not authorized to enter into an out-lease under this section unless the Administrator certifies that the out-lease will not have a negative impact on the mission of the Administration.

((f)) ** .—** The Administrator shall submit an annual report by January 31st of each year. The report shall include the following:

((1)) ** .—** Information that identifies and quantifies the value of the arrangements and expenditures of revenues received under this section.

((2)) ** .—** The availability and use of funds received under this section for the Administration’s operating plan.

((3)) ** .—** The annual and cumulative number of leases entered into under this section, by National Aeronautics and Space Administration center and facility.

((4)) ** .—** For each active lease agreement under this section, the estimated cost savings to the Administration resulting from reduced maintenance, operating, and associated costs in the previous fiscal year.

((5)) ** .—** Other quantifiable benefits, including additional cost savings not included under paragraph (4), to the Administration resulting from the use of leases under this section.

((g)) ** .—** Not later than 270 days after the date of the enactment of the National Aeronautics and Space Administration Authorization Act of 2022, the Administrator shall prepare and submit to the Committee on Commerce, Science, and Transportation of the Senate and the Committee on Science, Space, and Technology of the House of Representatives a report on existing requirements for applicants seeking a lease under this section, including—

((1)) any requirement related to the involvement of foreign entities, foreign entity ownership, and foreign entity investment; and

((2)) at the discretion of the Administrator, any other requirement related to the protection and security of Administration missions and facilities.

((h)) ** .—** The authority to enter into leases under this section shall expire . The expiration under this subsection of authority to enter into leases under this section shall not affect the validity or term of leases or the Administration’s retention of proceeds from leases entered into under this section before the expiration of the authority.