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 116TH CONGRESS 1ST SESSION S. 2888 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 NOVEMBER 18, 2019 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) Any bargain-price option to purchase at less 7 than fair market value contained in any lease agreement 8 entered into on or after January 1, 2019, pursuant to this 9 VerDate Sep 11 2014 04:08 Nov 20, 2019 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S2888.IS S2888 kjohnson on DSK79L0C42 with BILLS 2 •S 2888 IS section may be exercised only to the extent specifically pro- 1 vided for in subsequent appropriation Acts or other Acts 2 of Congress.’’. 3 Æ VerDate Sep 11 2014 04:08 Nov 20, 2019 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S2888.IS S2888 kjohnson on DSK79L0C42 with BILLS