Requires the President to review the Commission's recommendations and report on his or her approval or disapproval of them. Requires the Commission to revise its recommendations if disapproved by the President. Sets forth procedures for congressional consideration of Commission recommendations approved by the President.
Requires federal agencies to: (1) immediately begin preparation to carry out the Commission's recommendations after the congressional review process, (2) initiate all activities for implementation not later than two years after the President transmits the approved recommendations to Congress, and (3) complete implementation within six years unless extenuating circumstances prevent timely completion.
Limits the authority of executive agencies to lease space for the purposes of a public building. Requires the Administrator of GSA to comply with requirements of the Small Business Act when using commercial leasing services.
Expresses the sense of Congress that: (1) the Commission should assist small, minority, and women-owned businesses in obtaining contracts to redevelop federal property; (2) the Commission and other federal officials should conduct a public information campaign to advise small, minority, and women-owned businesses regarding such contracts; and (3) firms that are awarded such contracts should, to the maximum extent practicable, seek to award subcontracts to small, minority, and women-owned businesses.
Requires the Administrator to ensure that the life-cycle cost of a public building is considered in the construction or lease of a public building that: (1) is constructed or leased after the enactment of this Act; (2) has estimated construction costs exceeding $1 million; (3) if leased, has square footage of more than 25,000 square feet; and (4) has more than 50% of its estimated construction or lease costs federally-funded. Defines "life-cycle cost" as the sum of investment, capital, installation, energy, operating, maintenance, and replacement costs.