The bill requires the Administrator of General Services to submit an annual report on the state of the real estate portfolio of the Public Building Service to the House Committee on Transportation and Infrastructure and the Senate Committee on Environment and Public Works. The report should include various details such as lease activity, space utilization, financial indicators, and plans for relocating federal agencies housed in federally owned or leased space. This information aims to provide transparency and accountability regarding the management and utilization of federal real estate properties.
This bill requires the General Services Administration to annually report to Congress on the state of the Public Building Service's real estate portfolio for the previous calendar year. (The Public Building Service acquires, manages, and disposes of space on behalf of more than 100 federal agencies. Currently, it owns or leases 359 million square feet in more than 8,500 buildings.)
The report must include certain information about the portfolio, including the number of buildings owned, completed new construction, top customers, and the total number of leased spaces.