50 U.S. Code § 2466 - Use of funds for the purchase of options to purchase real property

(a) Authority

Subject to the limitation in subsection (b), funds authorized to be appropriated for the Administration for the purchase of real property may be expended to purchase options for the purchase of real property.

(b) Limitation on price of options

The price of any option purchased pursuant to subsection (a) may not exceed the minor construction threshold (as defined in section 2741 of this title).

(c) Notice

Not later than 14 days after the date an option is purchased pursuant to subsection (a), the Administrator shall submit to the congressional defense committees—

(1) a notification of such purchase; and

(2) a summary of the rationale for such purchase.

(Pub. L. 106–65, div. C, title XXXII, § 3265, as added Pub. L. 117–263, div. C, title XXXI, § 3119, Dec. 23, 2022, 136 Stat. 3055.)