A bill to amend the Federal Property and Administration Services Act of 1949, as amended, to provide for the assignment of surplus real property to executive agencies for disposal, and for other purposes.

Authorizes the Administrator of the General Services Administration to assign to the head of any executive agency for disposal, surplus real property, including buildings, fixtures, and equipment located in: (1) labor areas classified by the Department of Labor as areas of persistent unemployment, areas of substantial unemployment, or sections of concentrated unemployment or underemployment, if the proposed grantee or lessee agrees to employ a proportionate number of disadvantaged persons living in such sections; and (2) areas designated by the Department of Commerce under the Public Works and Economic Development Act as redevelopment areas, upon a determination by the head of such agency that transfer of such property will promote economic development and new employment opportunities.

Allows the head of the executive agency to which the property is assigned to dispose of such property to any State or political subdivision or any agency or instrumentality thereof, Indian tribe, nonprofit corporation, organization, or association for the purposes specified in this Act.