A bill to amend section 203 of the Federal Property and Administrative Services Act of 1949 to require, prior to disposal, that notice and first right of refusal be given to certain previous holders of surplus real property.

Amends the Federal Property and Administrative Services Act of 1949 to require Federal agencies which are about to dispose of surplus real property to first offer such property for sale to the person or entity which either: (1) transferred the property to the Federal Government; or (2) leased the property for any period within an interval preceding the date of the proposed disposal established by regulation of the Administrator of General Services.