Requires review of any project funded, licensed, permitted, or assisted by the federal government for impact on significant historic properties. The agency must allow the State Historic Preservation Office and the Advisory Council on Historic Preservation to comment on a proposed project. During the review process, the agency must determine if historic properties exist within the project area. If so, the agency must determine the effects on those properties and seek ways to avoid or reduce any negative effects.
Builds on the Public Buildings Cooperative Use Act of 1976 and allows federal agencies to lease historic properties out to public or private entities for alternative uses. After consultation with the Advisory Council on Historic Preservation, federal agencies may also enter into agreements with outside entities for the management of the historic buildings or property.