A bill to amend the Federal Property and Administrative Service Act of 1949, as amended, to provide for the assignment of surplus real property to executive agencies for disposal and for other purposes.

[AI summary unavailable — showing source text] Authorizes the Administrator of the General Services Administration to assign to the head of any executive agency surplus real property located in areas classified by the Department of Labor as: (1) areas of persistent unemployment; (2) areas of substantial unemployment; or (3) sections of concentrated unemployment or underemployment. Provides that such property shall be disposed to grantees or lessees who agree to employ or cause to be employed a proportionate number of disadvantaged persons living in such sections. States that the sale or lease value of property to be disposed of under this Act shall be fixed by the head of the executive agency to which the property has been assigned. Provides that the deed or lease of property transferred pursuant to this Act shall require that such property be used for the purpose for which it was transferred and shall, at the option of the United States, be subject to reverter or lease termination.…