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Latest updateJan 13, 2025
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H104)

Sponsor
Eleanor Norton
Introduced
January 3, 2025
Latest action
January 14, 2025
How far this bill has traveled through Congress
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Latest Action
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
The Securities and Exchange Commission currently holds independent authority to lease office space directly from private landlords under federal law, rather than going through the General Services Administration, which typically handles real estate leasing for federal agencies. This independent leasing power allows the SEC to negotiate and execute its own lease agreements without centralized government oversight of those transactions. The SEC has used this authority to secure office space in multiple locations to support its regulatory operations.
This bill amends title 40 of the United States Code to revoke the SEC's independent leasing authority. The General Services Administration Administrator will assume responsibility for leasing all general-purpose office space on behalf of the SEC, effective immediately upon enactment. The SEC will no longer be permitted to enter into new lease agreements directly with private parties; instead, the GSA will handle all such negotiations and contracts under its standard leasing procedures and authority.
Existing SEC leases signed before the bill's enactment remain valid and unaffected. The bill also directs the Comptroller General of the United States to conduct a comprehensive review of other federal agencies that retain independent leasing authorities, updating a 2016 Government Accountability Office report. This review will identify which agencies still hold such powers, how much space they lease, whether they have voluntarily used GSA services, and progress on prior recommendations to consolidate leasing authority. The Comptroller General must report findings to relevant congressional committees within a specified timeframe, with no dedicated funding mechanism specified in the legislation.
Centralizing the SEC's real estate leasing through the General Services Administration consolidates federal property management and may reduce administrative fragmentation. Existing SEC office leases remain uninterrupted, preventing immediate operational disruption. The bill also triggers a government-wide audit of independent leasing authorities across federal agencies, potentially identifying opportunities to streamline federal real estate practices and reduce duplicative leasing operations across the executive branch.
The Securities and Exchange Commission will experience the most direct impact, as it loses control over future office space negotiations and must work through General Services Administration processes. Federal employees at the SEC may face changes in office location decisions and lease renewal timelines. Private commercial real estate landlords who previously negotiated directly with the SEC will now deal exclusively with the General Services Administration. Other federal agencies with independent leasing authority will face scrutiny from the Comptroller General's review, potentially facing pressure to consolidate their leasing through the General Services Administration as well.
<DOC>
119th CONGRESS
1st Session
H. R. 189
IN THE SENATE OF THE UNITED STATES
January 14, 2025
Received; read twice and referred to the Committee on Banking, Housing,
and Urban Affairs
AN ACT
To amend title 40, United States Code, to eliminate the leasing
authority of the Securities and Exchange Commission, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Securities and Exchange Commission
Real Estate Leasing Authority Revocation Act''.
SEC. 2. LEASING OF SPACE FOR SECURITIES AND EXCHANGE COMMISSION.
(a) In General.--Section 3304 of title 40, United States Code, is
amended by adding at the end the following:
``(e) Leasing of Space for Securities and Exchange Commission.--
Notwithstanding any other provision of law, on and after the date of
enactment of this subsection, the Securities and Exchange Commission
may not lease general purpose office space. The Administrator may lease
such space for the Securities and Exchange Commission under section 585
and this chapter.''.
(b) Limitation on Statutory Construction.--The amendment made by
subsection (a) may not be construed to invalidate or otherwise affect a
lease entered into by the Securities and Exchange Commission before the
date of enactment of this Act.
SEC. 3. INDEPENDENT LEASING AUTHORITIES.
(a) In General.--The Comptroller General of the United States shall
submit to the Committee on Transportation and Infrastructure of the
House of Representatives, the Committee on Environment and Public Works
of the Senate, and the Committee on Homeland Security and Governmental
Affairs of the Senate a report on the review described in subsection
(b).
(b) Review.--The Comptroller General shall complete a review under
which the Comptroller General shall update the 2016 report of the
Comptroller General (GAO-16-648) with a specific focus on the
following:
(1) Updating the information included in Appendix II:
Federal Entities That Reported Having Independent Leasing
Authority for Domestic Offices and Warehouses of such report.
(2) Determining to what extent Federal entities with
independent leasing authorities have had such authorities
rescinded or amended and the number and amount of office and
warehouse space such entities lease.
(3) Determining to what extent have agencies with
independent leasing authority utilized the General Services
Administration for leasing, including utilization of delegation
of authority.
(4) Identifying progress made on implementing the
recommendations in such report.
…Auto-Whip
Built from official statements, public releases, and voting records where they exist. Members without enough evidence are marked as no position.
Members whose public record points toward backing the bill.
Mike Lee
R-Utah
While there is no explicit statement about the SEC Real Estate Leasing Authority Revocation Act on Mike Lee's website, his demonstrated policy positions suggest likely support. Lee has a clear pattern of: (1) opposing regulatory overreach and burdensome government authority (evidenced by his work on Davis-Bacon Act repeal, BOI financial red tape reduction, and DEI contracting discrimination), and (2) supporting deregulation and limiting federal agency power. A bill revoking SEC leasing authority aligns with these core principles of reducing government regulatory authority. However, confidence is moderate rather than high because there is no direct evidence of his stance on this specific bill, and real estate leasing authority is not prominently featured in the available website content.
Official websiteRand Paul
R-Kentucky
While there is no explicit statement about this specific bill in the public record, Rand Paul's documented policy positions suggest likely support. His platform emphasizes reducing federal government overreach and regulatory burden (evidenced by his signature legislation like the REINS Act, which requires congressional approval for major regulations, and the Audit the Fed bill). The SEC Real Estate Leasing Authority Revocation Act aligns with his libertarian-leaning philosophy of limiting executive agency power and regulatory scope. However, confidence is moderate rather than high due to the complete absence of direct statements about this bill, and the possibility that real estate leasing authority might not be a priority issue for Paul.
Official websiteTommy Tuberville
R-Alabama
Tommy Tuberville is a conservative Republican senator who emphasizes 'Economy & Fiscal Responsibility' and 'Conservative Legislative Wins' on his platform. The Securities and Exchange Commission Real Estate Leasing Authority Revocation Act would limit federal regulatory authority, which aligns with conservative principles of reducing government overreach and regulatory burden. However, the public record is primarily navigation elements and doesn't contain specific statements about this bill or real estate policy. Support is inferred from his general conservative ideological positioning rather than explicit statements about this particular legislation.
Official websitePete Ricketts
R-Nebraska
Pete Ricketts is a Republican Senator from Nebraska with a stated priority of 'Reining in Big Government' on his official website. The Securities and Exchange Commission Real Estate Leasing Authority Revocation Act would reduce federal agency authority by revoking a specific SEC power, which aligns with his demonstrated conservative/libertarian stance on limiting government scope. However, the public record does not contain any explicit statements about this specific bill, his voting record on similar SEC authority issues, or specific positions on real estate leasing regulations. The inference is based on his general ideological positioning rather than direct evidence of his stance on this particular legislation.
Official websiteJames Risch
R-Idaho
James Risch is a Republican Senator from Idaho with stated positions on 'Reining in Big Government' and 'Strengthening Small Businesses & the Economy.' The SEC Real Estate Leasing Authority Revocation Act aligns with conservative principles of reducing regulatory authority and deregulation. However, the public record contains only general navigation and policy area headers without specific statements about this bill or SEC matters. His party affiliation and general deregulatory stance suggest possible support, but without explicit evidence of his voting record on SEC-related bills or direct statements about this specific legislation, confidence remains moderate-to-low.
Official websiteMembers whose public record points toward opposition.
No members in this group yet.
Members we are still tracking, but without enough public evidence yet.
Angela Alsobrooks
D-Maryland
Alan Armstrong
R-Oklahoma
Tammy Baldwin
D-Wisconsin
Jim Banks
R-Indiana
John Barrasso
R-Wyoming
Michael Bennet
D-Colorado
Marsha Blackburn
R-Tennessee
Richard Blumenthal
D-Connecticut
Lisa Blunt Rochester
D-Delaware
Cory Booker
D-New Jersey
John Boozman
R-Arkansas
Katie Britt
R-Alabama
Ted Budd
R-North Carolina
Maria Cantwell
D-Washington
Shelley Capito
R-West Virginia
Bill Cassidy
R-Louisiana
Susan Collins
R-Maine
Christopher Coons
D-Delaware
John Cornyn
R-Texas
Catherine Cortez Masto
D-Nevada
Tom Cotton
R-Arkansas
Kevin Cramer
R-North Dakota
Mike Crapo
R-Idaho
Ted Cruz
R-Texas
John Curtis
R-Utah
Steve Daines
R-Montana
Tammy Duckworth
D-Illinois
Richard Durbin
D-Illinois
Joni Ernst
R-Iowa
John Fetterman
D-Pennsylvania
Deb Fischer
R-Nebraska
Ruben Gallego
D-Arizona
Kirsten Gillibrand
D-New York
Lindsey Graham
R-South Carolina
Chuck Grassley
R-Iowa
Bill Hagerty
R-Tennessee
Maggie Hassan
D-New Hampshire
Josh Hawley
R-Missouri
Martin Heinrich
D-New Mexico
John Hickenlooper
D-Colorado
Mazie Hirono
D-Hawaii
John Hoeven
R-North Dakota
Jon Husted
R-Ohio
Cindy Hyde-Smith
R-Mississippi
Ron Johnson
R-Wisconsin
James Justice
R-West Virginia
Timothy Kaine
D-Virginia
Mark Kelly
D-Arizona
John Kennedy
R-Louisiana
Andy Kim
D-New Jersey
Angus King
I-Maine
Amy Klobuchar
D-Minnesota
James Lankford
R-Oklahoma
Ben Luján
D-New Mexico
Cynthia Lummis
R-Wyoming
Edward Markey
D-Massachusetts
Roger Marshall
R-Kansas
Mitch McConnell
R-Kentucky
David McCormick
R-Pennsylvania
Jeff Merkley
D-Oregon
Ashley Moody
R-Florida
Jerry Moran
R-Kansas
Bernie Moreno
R-Ohio
Markwayne Mullin
R-Oklahoma
Lisa Murkowski
R-Alaska
Christopher Murphy
D-Connecticut
Patty Murray
D-Washington
Jon Ossoff
D-Georgia
Alex Padilla
D-California
Gary Peters
D-Michigan
John Reed
D-Rhode Island
Jacky Rosen
D-Nevada
Mike Rounds
R-South Dakota
Marco Rubio
R-Florida
Bernie Sanders
I-Vermont
Brian Schatz
D-Hawaii
Adam Schiff
D-California
Eric Schmitt
R-Missouri
Charles Schumer
D-New York
Rick Scott
R-Florida
Tim Scott
R-South Carolina
Jeanne Shaheen
D-New Hampshire
Tim Sheehy
R-Montana
Elissa Slotkin
D-Michigan
Tina Smith
D-Minnesota
Dan Sullivan
R-Alaska
John Thune
R-South Dakota
Thomas Tillis
R-North Carolina
Chris Van Hollen
D-Maryland
J. Vance
R-Ohio
Mark Warner
D-Virginia
Raphael Warnock
D-Georgia
Elizabeth Warren
D-Massachusetts
Peter Welch
D-Vermont
Sheldon Whitehouse
D-Rhode Island
Roger Wicker
R-Mississippi
Ron Wyden
D-Oregon
Todd Young
R-Indiana
No position data available yet
Source: cosponsors
No position data available yet
Source: cosponsors
Cosponsor data and vote records sourced from Congress.gov. Reflects formal legislative actions only.