The main purpose of this legislation is to prevent any federal property, such as buildings or land, from being named after a sitting President. The objective is to avoid the perception that such actions are motivated by vanity or personal ego, ensuring that federal assets remain neutral and not tied to current political figures. The key provisions of the legislation include a clear prohibition against naming, renaming, or designating any federal property in the name of a sitting President. Additionally, it specifies that federal funds cannot be used for these naming actions.