This bill matters because it changes a long-standing tradition related to how federal properties are recognized. Currently, it's possible for federal assets to be named after a President while they are still in office, which some see as premature or self-serving.

If this bill becomes law, it would ensure that such honors are reserved for Presidents after they have left office, allowing for a more complete historical perspective before granting such designations. This could prevent any perception of a President naming things after themselves or being honored before their full legacy is known. If it doesn't pass, the current practice of potentially naming federal property after a sitting President would continue.