The DISPOSAL Act requires the disposal of certain federal buildings by sale or ground lease.
The DISPOSAL Act mandates the disposal of specific federal buildings by the Administrator of General Services. Disposal can occur through sale at fair market value or through a ground lease with a term of up to 99 years. The act also allows for the relocation of federal agencies currently occupying these buildings. Exemptions apply to certain legal requirements, and the act prohibits the sale or lease to foreign entities. Net proceeds from disposals are to be deposited into the Federal Buildings Fund, with any surplus going to the general fund of the Treasury.
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