A bill to amend the Public Buildings Act of 1959 to authorize the Administrator of General Services to issue obligations to finance the acquisition and construction of public buildings.

Amends the Public Buildings Act of 1959 to authorize the Administrator of General Services to issue obligations, for purchase by the Secretary of the Treasury, to finance the acquisition and construction of public buildings. Specifies terms and conditions of repayment by the Secretary. Conditions the authorization of appropriations for the construction or acquisition upon approval by the appropriate congressional committees.