Federal Property Management Improvement Act of 1988

[AI summary unavailable — showing source text] Federal Property Management Improvement Act of 1988 - Amends the Federal Property and Administrative Services Act of 1949 to allow surplus government property which is to be sold at fixed sale prices to be offered to specified organizations that have expressed an interest in such property in order to permit them a prior opportunity to make the purchase. Describes such organizations as States, territories, possessions, political subdivisions, or tax-supported agencies. Requires an explanatory statement of the circumstances of each disposal by negotiation of: (1) any personal property which has an estimated fair market value in excess of $15,000; (2) any real property that has an estimated fair market value in excess of $100,000; (3) any real property disposed of by lease for a term of five years or less, if the estimated fair annual rent is in excess of $100,000 for any of such years; (4) any real property disposed of by lease for a term of more than five years, if the total estimated rent over the term of the lease is in excess of $100,000; or (5) any real property or real and related personal property disposed of by exchange, regardless of value, or any property any part of the co…