H.R.189 - Securities and Exchange Commission Real Estate Leasing Authority Revocation Act (119th Congress)
Summary
H.R.189, the Securities and Exchange Commission Real Estate Leasing Authority Revocation Act, aims to amend Title 40 of the United States Code. The core purpose is to eliminate the Securities and Exchange Commission's (SEC) independent authority to lease real estate. Instead, the General Services Administration (GSA) would manage the SEC's leasing needs.
The bill also mandates a report from the Comptroller General updating a 2016 GAO report on federal entities with independent leasing authorities. This update will focus on the extent to which these authorities have been rescinded or amended and how agencies utilize the GSA for leasing.
The bill passed the House of Representatives and was referred to the Senate Committee on Banking, Housing, and Urban Affairs.
Expected Effects
The primary effect of this act, if passed, would be to centralize the leasing authority for the SEC within the GSA. This could lead to greater efficiency and oversight in government real estate management.
The required report from the Comptroller General could also lead to further legislative action regarding independent leasing authorities across the federal government. This could potentially streamline operations and reduce redundancies.
Existing leases entered into by the SEC before the enactment of the Act would not be affected.
Potential Benefits
- Increased Oversight: Centralizing leasing authority within the GSA could lead to greater oversight and accountability in the SEC's real estate dealings.
- Potential Cost Savings: Streamlining leasing processes through the GSA might result in cost savings for the government.
- Standardized Procedures: Utilizing the GSA for leasing could ensure standardized procedures and best practices are followed.
- Improved Efficiency: Consolidating leasing responsibilities could improve efficiency in government real estate management.
- Data Collection: The Comptroller General's report will provide updated data on federal leasing practices, potentially informing future policy decisions.
Most Benefited Areas:
Potential Disadvantages
- Potential Bureaucracy: Requiring the SEC to go through the GSA for leasing could introduce additional bureaucracy and delays.
- Reduced Flexibility: The SEC may lose some flexibility in choosing real estate options that best suit its specific needs.
- Transition Costs: There may be transition costs associated with shifting leasing responsibilities from the SEC to the GSA.
- GSA Overload: The GSA could become overloaded if multiple agencies have their leasing authorities revoked simultaneously.
- Potential for Inefficiency: If the GSA is not adequately prepared, the change could lead to inefficiencies in meeting the SEC's real estate needs.
Constitutional Alignment
This bill appears to align with the US Constitution, specifically Article I, Section 8, which grants Congress the power to make laws necessary and proper for carrying out its enumerated powers, including managing government property and regulating commerce (which the SEC oversees). The bill does not appear to infringe on any individual liberties or rights protected by the Bill of Rights.
The requirement for a report from the Comptroller General aligns with Congress's oversight responsibilities. It allows Congress to gather information necessary for informed decision-making.
There are no apparent constitutional conflicts arising from this legislation.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).