HR 2220 · 117th Congress · Government Operations and Politics
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.
Bill Progress
1
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EnactedLatest: Became Public Law No: 117-257.(2022-12-21)
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Plain Language Summary
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This bill 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 bill applies to lease agreements that are entered into on or after January 1, 2021.…
Summarized by Claude AI · Non-partisan · For informational purposes only