1. Short title This Act may be cited as the Secure Adjacent Federal Property Act of 2023 . 2. Definitions In this Act: (1) Administrator The term Administrator means the Administrator of General Services. (2) Beneficial owner (A) In general The term beneficial owner , with respect to a covered entity, means 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) Exclusions The term beneficial owner , with respect to a covered entity, does not include— (i) a minor; (ii) a person acting as a nominee, intermediary, custodian, or agent on behalf of another person; (iii) a person acting solely as an employee of the covered entity and whose control over or economic benefits from the covered entity derives solely from the employment status of the person; (iv) a person whose only interest in the covered entity is through a right of inheritance, unless the person also meets the requirements of subparagraph (A); or (v) a creditor of the covered entity, unless the creditor also meets the requirements of subparagraph (A). (C) Anti-abuse rule The exclusions under subparagraph (B) shall not apply if, in the determination of the Administrator, an exclusion is used for the purpose of evading, circumventing, or abusing the requirements of this Act. (3) Control The term control , with respect to a covered entity, means— (A) having the authority or ability to determine how the covered entity is used; or (B) having some decision-making power for the use of the covered entity. (4) Covered entity The term covered entity means— (A) a person, corporation, company, business association, partnership, society, trust, or any other nongovernmental entity, organization, or group