Public Private Partnership Act of 2003 - Authorizes the Administrator of General Services to enter into agreements with non-Federal entities for: (1) the acquisition, lease, construction, rehabilitation, operation, maintenance, or use of real property under the jurisdiction of the General Services Administration (GSA) or another landholding agency; or (2) other activities relating to the property deemed appropriate by the Administrator.
Allows the Administrator to enter into such agreements with regard to real property under the jurisdiction of non-GSA landholding agencies only upon the request of the head of the agency and a determination by that agency head that the property is not excess property.
Sets forth terms and conditions for agreements. Requires fair consideration and authorizes in-kind consideration.
Authorizes the Administrator to convey interests in real property to nonfederal entities.
Exempts agreements pursuant to this Act from the congressional approval requirement of existing law. Allows the Administrator to waive other specified legal requirements as necessary. Requires the Administrator to transmit a report on the proposed agreement to Congress as a prerequisite to entering into an agreement.
Requires proceeds from agreements to be deposited into the Federal Buildings Fund. Provides for the recovery of expenses incurred with respect to agreements.
States that the Administrator's authority to enter into agreements pursuant to this Act shall expire six years from enactment.