H.R. 7388 — Smart Space Act of 2026

This section directs the Administrator of General Services, not later than 90 days after enactment, to convene public consultation meetings—not subject to the Federal Advisory Committee Act—with private, federal, and state/District of Columbia real estate experts to identify alternative financing solutions, including public-private partnerships (P3s), for constructing or renovating public buildings (as defined in 40 U.S.C. §3301) or preparing them for disposal to reduce federal costs. Not later than 120 days after enactment, the Administrator must submit to the President (1) recommendations on P3s and alternative financing methods suited to federal public building needs and (2) a list of recommended projects that (i) serve core federal missions requiring long-term federally owned space, (ii) enable consolidations or relocations from costly, inefficient, or underutilized space intended for sale or disposal, and (iii) for standard office space, achieve at least 60% building utilization (as defined in section 2302 of the Thomas R. Carper Water Resources Development Act of 2024, 40 U.S.C. 584 note). The section requires the Administrator to submit the report to the House Committee on Transportation and Infrastructure and the Senate Committee on Environment and Public Works, post it and process timelines publicly on the General Services Administration website, and report any delays to the President and Congress. It defines "alternative financing" and "public-private partnership" to include design-build-finance-operate-maintain agreements and ground-lease/leaseback arrangements.