102 STAT. 3180

PUBLIC LAW 100-612—NOV. 5, 1988

Public Law 100-612
100th Congress

An Act

Nov. 5,1988
[H.R. 5104]
Federal
Property
Management
Improvement
Act of 1988.
40 USC 471 note.

To improve the efficiency and effectiveness of the management and disposal of
Federal real and personal property.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
section 1. This Act may be cited as the "Federal Property
Management Improvement Act of 1988".
sec. 2. Section 201(c) of the Federal Property and Administrative
Services Act of 1949 (40 U.S.C. 481(c)) is amended by adding at the
end thereof the following new sentence: "Sales of property pursuant
to this subsection shall be governed by section 3709 of the Revised
Statutes (41 U.S.C. 5), except that fixed price sales may be conducted
in the same manner and subject to the same conditions as are
applicable to the sale of property pursuant to section 203(e)(5) of this
Act".
sec. 3. Section 203(e)(5) of the Federal Property and Administra-
tive Services Act of 1949 (40 U.S.C. 484(e)(5)) is amended—
 (1)	by inserting "(A)" after "(5)"; and
 (2)	by adding at the end thereof the following:
"(B) Under regulations and restrictions to be prescribed by the
Administrator, property to be sold pursuant to this paragraph may
be offered to organizations specified in paragraph (3)(H) of this
subsection that have expressed an interest in the property to permit
such an organization a prior opportunity to purchase at the prices
fixed for such property.".
sec. 4. (a) Section 203(e)(6) of the Federal Property and Adminis-
trative Services Act of 1949 (40 U.S.C. 484(e)(6)) is amended to read
as follows:
"(6)(A) Except as otherwise provided by subparagraph (C) of this
paragraph, an explanatory statement shall be prepared of the cir-
cumstances of each disposal by negotiation of—
^u(i) any personal property which has an estimated fair market
value in excess of $15,000;
"(ii) any real property that has an estimated fair market
value in excess of $100,000, except that any real property
disposed of by lease or exchange shall only be subject to clauses
(iii) through (v) of this subparagraph;
"(iii) any real property disposed of by lease for a term of 5
years or less, if the estimated fair annual rent is in excess of
$100,000 for any of such years;
"(iv) any real property disposed of by lease for a term of more
than 5 years, if the total estimated rent over the term of the
lease is in excess of $100,000; or
"(v) any real property or real and related personal property
disposed of by exchange, regardless of value, or any property
any part of the consideration for which is real property.
"(B) Each such statement shall be transmitted to the appropriate
committees of the Congress in advance of such disposal, and a copy