PUBLIC LAW 105-85—NOV. 18, 1997 111 STAT. 1891 Subtitle F—Matters Relating to Defense Property SEC. 1061. LEASE OF NON-EXCESS PERSONAL PROPERTY OF MILITARY DEPARTMENTS. (a) RECEIPT OF FAIR MARKET VALUE.— Subsection (b)(4) of section 2667 of title 10, United States Code, is amended by striking out", in the case of the lease of real property,". (b) COMPETITIVE SELECTION. — Such section is further amended— (1) by redesignating subsection (g) as subsection (h); and (2) by inserting after subsection (f) the following new subsection: "(g)(1) If a proposed lease under subsection (a) involves only personal property, the lease term exceeds one year, and the fair market value of the lease interest exceeds $100,000, as determined by the Secretary concerned, the Secretary shall use competitive procedures to select the lessee. "(2) Not later than 45 days before entering into a lease described Notice. in paragraph (1), the Secretary concerned shall submit to Congress written notice describing the terms of the proposed lease and the competitive procedures used to select the lessee.". (c) CLERICAL AMENDMENTS.—(1) The heading of such section is amended to read as follows: §2667. Leases: non-excess property of military departments". (2) The table of sections at the beginning of chapter 159 of title 10, United States Code, is amended by striking out the item relating to section 2667 and inserting in lieu thereof the following new item: "2667. Leases: non-excess property of military departments.". (d) CONFORMING AMENDMENT.— Section 2490a(f)(2) of title 10, United States Code, is amended by striking out "section 2667(g)" and inserting in lieu thereof "section 2667(h)". SEC. 1062. LEASE OF NON-EXCESS PROPERTY OF DEFENSE AGENCIES. (a) LEASE AUTHORITY. —Chapter 159 of title 10, United States Code, is amended by inserting after section 2667 the following new section:
- § 2667a. Leases: non-excess property of Defense agencies
"(a) LEASE AUTHORITY.—Whenever the Secretary of Defense considers it advantageous to the United States, the Secretary may lease to such lessee and upon such terms as the Secretary considers will promote the national defense or to be in the public interest, personal property that is— "(1) under the control of a Defense agency; "(2) not for the time needed for public use; and "(3) not excess property, as defined by section 3 of the Federal Property and Administrative Services Act of 1949 (40 U.S.C. 472). "(b) LIMITATION, TERMS, AND CONDITIONS.— A lease under subsection (a)—
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