Securities and Exchange Commission Real Estate Leasing Authority Revocation Act

2/12/2025, 9:01 AM
Congress
119

Number
HR - 189

Introduced on
2025-01-03

# Amendments
0

Sponsors
Eleanor Holmes Norton

Variations and Revisions

1/13/2025

Status of Legislation

Bill Introduced
Introduced to House
Passed in House
Introduced to Senate
Senate to Vote

Purpose and Summary

Securities and Exchange Commission Real Estate Leasing Authority Revocation Act

This bill revokes the authority of the Securities and Exchange Commission (SEC) to lease general purpose office space and instead provides for the General Services Administration to lease such space for the SEC. The bill's provisions do not affect those leases entered into by the SEC before this bill's enactment.

The Government Accountability Office must (1) complete a review under which it shall update a 2016 report with respect to independent leasing authorities, and (2) report to Congress on the review.

Bill 119 hr 189 aims to make changes to title 40 of the United States Code, specifically targeting the leasing authority of the Securities and Exchange Commission (SEC). The bill seeks to eliminate the SEC's ability to enter into leases for office space or other facilities.

The rationale behind this proposed change is not explicitly stated in the bill, but it may be related to concerns about the cost-effectiveness of leasing arrangements for the SEC or a desire to streamline the agency's operations.

In addition to eliminating the SEC's leasing authority, the bill also includes provisions for other purposes, which are not specified in the summary. It is likely that these additional provisions are related to the SEC's operations or oversight responsibilities. Overall, Bill 119 hr 189 is a targeted piece of legislation that seeks to make specific changes to the SEC's leasing authority. The potential impact of this bill on the SEC's operations and budget would depend on the specifics of the leasing arrangements currently in place and how the agency would need to adjust its facilities management in response to the proposed changes.
Alternative Names
Official Title as IntroducedTo amend title 40, United States Code, to eliminate the leasing authority of the Securities and Exchange Commission, and for other purposes.

Policy Areas
Government Operations and Politics

Comments

Recent Activity

Latest Summary1/30/2025

Securities and Exchange Commission Real Estate Leasing Authority Revocation Act

This bill revokes the authority of the Securities and Exchange Commission (SEC) to lease general purpose office space and instead provides for ...


Latest Action1/14/2025
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.