1. Short title; findings (a) Short title This Act may be cited as the Secure Federal Leases from Espionage And Suspicious Entanglements Act or the Secure Federal LEASEs Act . (b) Findings Congress finds that— (1) the Government Accountability Office has reported that the Federal Government often leases high-security space from private sector landlords; (2) the General Services Administration collects highest-level and immediate ownership information through the System of Award Management, but it is not currently required to collect beneficial ownership information and lacks an adequate system for doing so; (3) the General Services Administration and Federal agencies with leasing authority may not know if foreign owners have a stake in the buildings leased by the agencies, either through foreign-incorporated legal entities or through ownership in United States-incorporated legal entities, even when the leased space is used for classified operations or to store sensitive data; and (4) according to a report of the Government Accountability Office, dated January 2017, that examined the risks of foreign ownership of Government-leased real estate, leasing space in foreign-owned buildings could present security risks such as espionage and unauthorized cyber and physical access . 2. Definitions In this Act: (1) Beneficial owner (A) In general Except as provided in subparagraph (B), the term beneficial owner means, with respect to a covered entity, each natural person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise— (i) exercises control over the covered entity; or (ii) has a substantial interest in or receives substantial economic benefits from the assets of the covered entity. (B) Exceptions The term beneficial owner does not include, with respect to a covered entity— (i) a minor child; (ii) a person acting as a nominee, intermediary, custodian, or agent on behalf of another person