51 U.S.C. § 31505 — Development of enhanced-use lease policy
submitted 16 years ago by Pub. L. 111-314 to r/title-51-NATIONAL-AND-COMMERCIAL-SPACE-PROGRAMS · 170 words · no verdicts yet
The Administrator must create an agency-wide enhanced-use lease policy based on sound business practices and accountability. The policy must address economic value, security, effectiveness, and accounting controls.
(a) In General. The Administrator* must develop an agency-wide enhanced-use lease policy based on sound business practices and lessons from demonstration centers, with controls and procedures for accountability and protection of Government interests. (b) Contents. The policy must include: (1) criteria for deciding whether a lease gives the Government better economic value than other choices, such as appropriations financing or selling the property; (2) requirements to identify physical and procedural security changes, restrict specified areas, coordinate changes with existing tenants, and estimate costs; (3) effectiveness measures; and (4) accounting controls and procedures, such as an audit trail and documents readily supporting financial transactions.
The Administrator* shall develop an agency-wide enhanced-use lease policy that—
is based upon sound business practices and lessons learned from the demonstration centers; and
establishes controls and procedures to ensure accountability and protect the interests of the Government.
The policy required by subsection (a) shall include the following:
Criteria for determining whether enhanced-use lease provides better economic value to the Government than other options, such as—
Federal financing through appropriations; or
sale of the property.
Requirement for the identification of proposed physical and procedural changes needed to ensure security and restrict access to specified areas, coordination of proposed changes with existing site tenants, and development of estimated costs of such changes.
Measures of effectiveness for the enhanced-use lease program.
Accounting controls and procedures to ensure accountability, such as an audit trail and documentation to readily support financial transactions.
Source credit: (Pub. L. 111–314, § 3, Dec. 18, 2010, 124 Stat. 3377.)
- 2010Enacted · Pub. L. 111-314 · 124 Stat. 3377
A history note hasn’t been published yet. The record shows enactment by Pub. L. 111-314 on 2010-12-18.
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