General Services Administration Modernization Act

General Services Administration Modernization Act - (Sec. 2) Establishes a Federal Acquisition Service in the General Services Administration (GSA) to be headed by a Commissioner who shall be responsible for carrying out functions related to the uses of the Acquisition Services Fund (created by this Act), including any functions that were carried out by the Federal Supply Service and the Federal Technology Service.

Authorizes the Administrator to appoint Regional Executives in the Federal Acquisition Service to carry out such functions within that Service as the Administrator considers appropriate.

(Sec. 3) Abolishes the General Supply Fund and the Information Technology Fund in the Treasury. Transfers remaining capital assets and balances in such Funds to the Acquisition Services Fund to be merged with, and be available for, the purposes of such Fund.

Requires the Acquisition Services Fund to be credited with all reimbursements relating to personal property or services procured through the Fund, including: (1) the net proceeds of disposal of surplus personal property; and (2) receipts from carriers and others for loss of, or damage to, personal property; and (3) receipts from agencies charged fees pursuant to rates established by the Administrator. Requires the Administrator to determine cost and capital requirements of the Fund and develop a plan concerning such requirements in consultation with the Chief Financial Officer of GSA. Requires the Administrator, according to such plan, to establish rates to be charged agencies provided personal property and non-personal services through the Fund.

Allows fees collected for recovering the costs of testing materials tendered for sale or lease to GSA or any procurement authority acting under GSA to be deposited in the Fund.

Provides for: (1) the use of the Fund for personal services related to the provision of information technology; and (2) the Administrator to fix prices at levels sufficient to recover the cost of personal services employed directly in providing information technology.

Sets requirements for the transfer of uncommitted balances in the Fund.

(Sec. 4) Amends the Office of Federal Procurement Policy Act to direct the head of each executive agency to establish policies and procedures under which the agency head may reemploy in an acquisition-related position an individual receiving an annuity from the Civil Service Retirement and Disability Fund without discontinuing such annuity, if unique needs exist. Prohibits considering an individual so reemployed to be a federal employee for the purposes of the Civil Service Retirement System (CSRS) or the Federal Employees Retirement System (FERS).

Requires the Administrator to submit annual reports to specified congressional committees on the use of such authority, including the number of employees reemployed under such authority.

Terminates such authority on December 31, 2011.

(Sec. 5) Amends federal law relating to donation of personal property through state agencies to provide for the transfer of historic light stations, including historic light stations conveyed under the National Historic Preservation Act, to such agencies for education or public health (including research) purposes to a nonprofit educational or public health institution or organization that is exempt from taxation under section 501 of the Internal Revenue Code.