A bill 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.

II 117TH CONGRESS 1ST SESSION S. 946 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. IN THE SENATE OF THE UNITED STATES MARCH 24, 2021 Mr. LANKFORD (for himself and Mr. PETERS) introduced the following bill; which was read twice and referred to the Committee on Environment and Public Works A BILL To amend title 40, United States Code, to modify the treat- ment of certain bargain-price options to purchase at less than fair market value, and for other purposes. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. LIMITATION ON DISCOUNTED PURCHASE OP- 3 TIONS. 4 Section 585 of title 40, United States Code, is 5 amended by adding at the end the following: 6 ‘‘(d) LIMITATION ON DISCOUNTED PURCHASE OP- 7 TIONS.—Any bargain-price option to purchase at less than 8 fair market value contained in any lease agreement en- 9 VerDate Sep 11 2014 20:09 Apr 17, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S946.IS S946 pbinns on DSKJLVW7X2PROD with BILLS 2 •S 946 IS tered into on or after January 1, 2021, pursuant to this 1 section may be exercised only to the extent specifically pro- 2 vided for in subsequent appropriation Acts or other Acts 3 of Congress.’’. 4 Æ VerDate Sep 11 2014 20:09 Apr 17, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S946.IS S946 pbinns on DSKJLVW7X2PROD with BILLS