The vice speaker introduced Bill 176-38 COR and explained it would allow a commercial tenant who has occupied government property continuously for at least five years and complied with lease terms to extend the lease at fair market value for additional terms not to exceed a total of 15 years, with reappraisals at least every five years. The bill ties fair market value to an appraiser licensed to do business on Guam and requires the tenant to pay the appraisal.

Opponents argued the measure circumvents procurement and competitive bidding rules, could produce "sweetheart deals," and disadvantage firms that previously competed for leases. One floor speaker cited committee testimony naming AT&T and Smithbridge as expiring tenants whose leases were discussed in the hearings and said GEDA's fair-market valuations had, in at least one example, differed sharply from what a bidder was willing to pay. Several speakers urged case‑by‑case review rather than a blanket extension.

Supporters and the bill author responded that the extension is discretionary (a "may" provision), requires lessor approval (GEDA or the managing lessor), includes escalation language, and preserves procurement safeguards because the lessor may decline the extension. Senator Massey read the bill text for clarity and emphasized that the bill does not itself name companies; she said agencies retain the ability to refuse extensions and that appraisers risk professional consequences if they misstate fair market value.

The floor recorded objections during debate but ultimately the motion to move Bill 176-38 COR to third reading passed after a hand-raise vote; no roll-call tally was provided in the transcript. Lawmakers who opposed the bill said they would continue to press procurement and oversight concerns as the measure proceeds to third reading.