The "Leasing and Infrastructure Act of 2025" grants the Secretary of Veterans Affairs (VA) independent authority to enter into leases for major medical facilities. This authority bypasses the need for delegation from the General Services Administration (GSA), provided that the lease prospectus receives approval from the House and Senate Committees on Veterans' Affairs. Leases under this new authority are limited to a firm term of 20 years, with extensions requiring further congressional or prospectus authorization. To support this independent leasing, the bill establishes a new Veterans Leasing Fund in the Treasury, which will receive appropriations and transfers for rental payments, tenant improvements, and operating costs. The legislation mandates rigorous financial oversight, requiring market-based cost estimates for purpose-built facilities that account for construction, material, and land acquisition costs. If projected costs exceed approved estimates by more than ten percent or congressional budget authority, the Secretary must promptly notify Congress. The bill also aims to streamline the procurement process by setting a target for lease awards within one year of solicitation. To enforce this, it requires the VA to reimburse prospective lessors for costs incurred due to delays exceeding one year, calculated at one percent annually of the average land acquisition cost. Furthermore, the Secretary must annually report to Congress on lease award timelines and reasons for any delays, and is directed to revise internal design guides and consolidate documentation to improve efficiency.