S. 2173: For Sale Act of 2025

The "For Sale Act of 2025" is a piece of legislation proposed to manage certain federal properties in the United States. Here are its main points:

Sale of Underutilized Federal Buildings

• Within 18 months of this bill becoming law, federal agencies located in specific underutilized buildings must relocate to other federal facilities.
• After the agencies vacate the buildings, the Act requires that within two years, the Administrator of General Services sells these buildings at fair market value. The buildings targeted for sale include:
  • The Department of Agriculture South Building, Washington, DC
  • The Hubert H. Humphrey Federal Building, Washington, DC
  • The Frances Perkins Federal Building, Washington, DC
  • The James V. Forrestal Building, Washington, DC
  • The Theodore Roosevelt Federal Building, Washington, DC
  • The Robert C. Weaver Federal Building, Washington, DC

Prohibition on Foreign Ownership

• The Act stipulates that the buildings cannot be sold to foreign persons or entities, ensuring that ownership remains domestic.

Management of Sale Proceeds

• Proceeds from the sales are directed to the Federal Buildings Fund for necessary implementation costs, while any excess funds are to reduce the federal deficit.
• Expenditures from the Federal Buildings Fund will require specific future appropriations once the funds are deposited.

Restrictions on Future Property Acquisition

• Federal agencies are prohibited from purchasing or leasing any additional property as part of closing or consolidating the agencies impacted by the sales.

Exemptions from Existing Regulations

• The sales carried out under this Act are exempt from several regulatory requirements, including those related to:
  • Homeless Assistance Act
  • National Environmental Policy Act
  • Historic Preservation Act
  • Specific chapters of title 40 of the United States Code

Relevant Companies

• None found