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AI Summary: This regulation revokes two previous executive orders (EO 12072 from 1978 and EO 13006 from 1996) that previously guided federal office space management by prioritizing central business districts and historic properties. The new executive order aims to provide agencies more flexibility in selecting office spaces based on cost-effectiveness and mission efficiency. The Administrator of General Services is directed to update relevant regulations to align with this new approach. The order specifically allows federal agencies to choose office locations that best support their operational needs, removing previous geographical restrictions. The regulation also includes standard legal provisions ensuring it does not impair existing agency authorities, must be implemented consistent with applicable law, and does not create enforceable legal rights for any party.