; and (2) prohibited from use as an offset for other spending increases or revenue reductions. . (d) Clerical amendment The analysis for chapter 5 of title 40, United States Code, is amended by inserting after the item relating to section 574 the following new item: 575. Proceeds from sale of certain agency property. . (e) Regulations Not later than 180 days after the date of enactment of this Act, the Administrator of General Services shall issue such regulations as are necessary to update section 102–75.255 of title 41, Code of Federal Regulations, to authorize executive agencies to dispose of surplus property and excess property without making the property available to other executive agencies or State and local governments before such disposal. (f) Definitions In this section, the terms excess property , executive agency , and surplus property have the meaning given such terms in section 102 of title 40, United States Code. 4. GSA Reports (a) Review Not later than 18 months after the date of enactment of this Act, and every 5 years thereafter, the Administrator of General Services, in coordination with the Congressional Research Service, shall submit to Congress a report containing the information described in subsection (b). (b) Contents of report The report required under subsection (a) shall contain the following: (1) A survey of all unused or vacant office space held by each executive agency and rec­om­men­da­tions for reducing each agency’s real property assets, selling such assets in an efficient manner, and addressing any potential safety hazards associated with vacant office space. (2) A survey of all the underutilized or partially empty agency office space held by each executive agency and recommendations for reducing each agency’s real property assets, selling such assets in an efficient manner, and addressing any potential safety hazards associated with partially empty office space. (3) For each excess property and surplus property disposed of by an executive agency, an indication of— (A) the date