article: SECTION 1. SHORT TITLE. This Act may be cited as the ``Federal Asset Management Improvement Act of 2001''. TITLE I--IMPROVED PROPERTY MANAGEMENT SEC. 101. PERFORMANCE MEASUREMENT. (a) Performance Measures Required.-- (1) In general.--The Administrator, in consultation with the heads of executive agencies, shall establish performance measures to determine the effectiveness of Federal property management. The performance measures shall be designed to-- (A) enable the Congress and heads of executive agencies to track progress in the achievement of property management objectives on a governmentwide basis; and (B) allow for comparing the performance of executive agencies against industry and other public sector agencies in terms of performance. (2) Use of existing data and data collection tools.--In developing and implementing the performance measures, the Administrator shall use existing data sources and automated data collection tools to the maximum extent practical. (b) Executive Agencies.--The head of each executive agency shall-- (1) monitor the performance of the agency against the performance measures established under subsection (a); and (2) report the results of such monitoring to the Congress in the agency's budget submission under section 1105 of title 31, United States Code. (c) Management Plan.--Within 90 days after the date of the enactment of this Act, the Administrator of General Services shall submit to the Congress a program management plan describing-- (1) how the program established by this Act will be implemented; (2) individuals who will exercise operational authority over the program; (3) the qualifications of such individuals; and (4) a timeline for implementation of the program. TITLE II--PUBLIC-PRIVATE PARTNERSHIPS SEC. 201. PUBLIC-PRIVATE PARTNERSHIP AUTHORITY. Title II of the Federal Property and Administrative Services Act of 1949 (40 U.S.C. 481 et seq.) is amended by adding at the end the following: ``Sec. 213. (a) The Administrator may enter into agreements for the creation of one or more public-private partnerships with a nongovernmental person, the purpose of which shall be (1) to lease Federal real property under the terms of subsection (c), and (2) to develop, rehabilitate, or renovate facilities on such leased property for the use, in whole or part, by executive agencies. The public- private partnership may be a limited liability company, limited partnership, corporation, business trust, or other form of entity, as the Administrator may designate. The nongovernmental person shall exercise control of the management of the public-private partnership, and shall hold a majority interest in ownership and profits of the public-private partnership. ``(b) Each agreement entered into pursuant to this section-- ``(1) shall have as its primary purpose the enhancement of the functional and economic efficiency of Federal real property; ``(2) shall be negotiated pursuant to such procedures as the Administrator considers necessary to promote competition and protect the public interest; ``(3) shall provide a lease option to the United States to occupy space in the facilities acquired, constructed, or rehabilitated by the public-private partnership, but shall not guarantee occupancy by the United States; ``(4) shall describe the consideration, duties, and responsibilities for which the United States and the nongovernmental person are responsible and may provide for the alteration, repair, or improvement of the real property as part or all of the consideration of the nongovernmental person, notwithstanding any provision of law, including the Act of June 30, 1932 (chapter 314; 40 U.S.C. 303b); ``(5) shall provide-- ``(A) that the United States shall not be liable for any actions, debts, or liability of any person created by such agreement; and ``(B) that no person is authorized by the agreement to execute any instrument or document creating or evidencing any indebtedness unless such instrument or document specifically disclaims any liability of the United States under the instrument or document; and ``(6) shall provide that the leasehold interests of the United States are senior to that of any lender to the nongovernmental person. Paragraph (6) shall not impair the ability of a public-private partnership to pledge as collateral its leasehold interest under a lease with the United States entered into pursuant to the terms of subsection (c). ``(c)(1) Notwithstanding any other provision of law, including sections 202 and 203 of this Act, the Administrator may lease real property to a public-private partnership created under this section in furtherance of agreements under subsection (a). ``(2) Master leases under this subsection may be for such period as the Administrator determines appropriate. ``(3) The Administrator may dispose of equity interest controlled by the United States in any public-private partnership created under this section whenever determined by the Administrator to be beneficial to the United States, if the Administrator receives the estimated fair market value of such interests. Proceeds from such disposal shall be deposited into the fund created by section 210(f). ``(4) Real property leased under this subsection shall not be considered unutilized or underutilized for purposes of section 501 of the Stewart B. McKinney Homeless Assistance Act and may be leased under this subsection without regard to any other provision of law. ``(d) Notwithstanding any other provision of law, the Administrator, or his or her designee, may provide services to a public-private partnership created under this section on such terms as the Administrator considers appropriate. ``(e)(1) Notwithstanding any other provision of law, the Administrator may retain and use any revenues derived from agreements entered into under this section for the physical improvement of Federal real property. ``(2) At the discretion of the Administrator, revenues from master leases authorized by this section shall be deposited into the fund established by section 210(f), or deposited into the general fund of the Treasury as miscellaneous receipts. ``(3) Net revenues received by the Administrator from public- private partnerships created under this section, other than proceeds from master leases of real property, shall be deposited in the fund established by section 210(f). ``(f) Upon request of the head of an executive agency, the Administrator shall delegate to the head of the executive agency authority of the Administrator under subsections (a) through (e). ``(g) The Administrator shall prepare and transmit to the Congress a business plan regarding each agreement with a nongovernmental person under this section not later than 30 days before the date on which the Administrator enters into the agreement. The business plan shall identify the property that the Administrator proposes to make available under the agreement, an explanation of the agreement, the name, resources, and qualifications of the nongovernmental person, the factors in support of the proposed project, and performance measures by which the proposed project will be measured. ``(h) The Administrator shall describe, in the budget submitted by the President pursuant to section 1105 of title 31, United States Code, the projected economic performance, including expenditures and receipts, arising from agreements entered into pursuant this section. ``(i) In this section: ``(1) The term `nongovernmental person' means a person that is not an executive agency. ``(2) The term `master lease' means a conveyance of Federal real property to a public-private partnership created under this section through a lease entered into by the Administrator with the public-private partnership.''. SEC. 202. REPORTS. (a) Office of the Administrator.--Not later than 5 years after the date of enactment of this Act, the Administrator of General Services shall submit to the Congress a report on the use by executive agencies of the authorities provided by this Act. The report shall-- (1) assess the effectiveness of the authority to enter into agreements to enhance the value of the properties subject to the agreements; and (2) review the performance measures included in the explanatory statements submitted pursuant to section 201. (b) Report of the Comptroller General.--Not later than 5 years after the date of enactment of this Act, the Comptroller General of the United States shall submit to the Congress a report on the use by executive agencies of the authorities provided by this Act.
summary: Federal Asset Management Improvement Act of 2001 - Directs the: (1) Administrator of General Services to establish performance measures to determine the effectiveness of Federal property management; (2) head of each executive agency to monitor their agency's performance against such measures and report results to Congress; and (3) Administrator to submit to Congress a Federal property management plan.Amends the Federal Property and Administrative Services Act of 1949 to authorize the Administrator to enter into agreements for the creation of one or more public-private partnerships to: (1) lease Federal real property; and (2) develop, rehabilitate, or renovate facilities on such property for use by executive agencies. Requires the Administrator to prepare and submit to Congress at least 30 days before entering into such an agreement a business plan regarding each agreement.