National Park System Long-Term Lease Investment Act

This Act may be cited as the “National Park System Long-Term Lease Investment Act”.

(a) In general.— Subject to subsections (b) and (c), the Secretary of the Interior (acting through the Director of the National Park Service) (referred to in this Act as the “Secretary”) may extend a lease entered into under part 18 of title 36, Code of Federal Regulations (as in effect on January 3, 2025), without complying with the requirements of section 18.7, 18.8, or 18.10 of that part, if—

(1) the lessee—

(A) entered into the lease not less than 5 years before the date on which the extension takes effect; and

(B) is in compliance with the terms and conditions of the lease; and

(2) the Secretary determines that extending the lease is in the best interests of the administration of the applicable unit of the National Park System.

(b) Requirement.— Before extending a lease under subsection (a), the Secretary shall—

(1) publish a notice, for a period of not less than 60 days, inviting letters of interest from other qualified entities to operate the lease on expiration;

(2) evaluate any competing letter of interest received under paragraph (1) as compared to the terms offered, planned capital investment, and quality of visitor services provided by the incumbent lessee; and

(3) if the Secretary determines that a competing letter of interest would provide better terms than the continued operation of the incumbent lease—

(A) decline to extend the lease under subsection (a); and

(B) in lieu of such an extension, offer the lease for competitive bidding in accordance with sections 18.7 and 18.8 of title 36, Code of Federal Regulations (or successor regulations).

(c) Congressional notification required for certain lease extensions.— In the case of a proposed lease extension under subsection (a) for a duration of more than 10 years, the Secretary may not grant the proposed lease extension until the date that is not less than 30 days after the date on which the Secretary submits to the Committee on Energy and Natural Resources of the Senate and the Committee on Natural Resources of the House of Representatives the proposed lease extension.

(d) Mid-term compliance review.—

(1) In general.— Not later than the date that is the midpoint of the term of a lease extended under subsection (a), the Director of the National Park Service shall prepare and submit to the Secretary of the Interior a report evaluating the compliance by the lessee with the terms and conditions of the extended lease, including with respect to rent, maintenance, insurance, and permitted-use requirements under the lease and part 18 of title 36, Code of Federal Regulations (or successor regulations).

(2) Review and determination.— Not later than 60 days after receiving a report under paragraph (1), the Secretary of the Interior shall—

(A) review the report; and

(B) based on the findings included in the report, determine whether the lessee that is the subject of the report remains in compliance with the terms and conditions of the applicable extended lease.

(3) Termination for noncompliance.— If the Secretary of the Interior determines under paragraph (2) that a lessee is not in compliance with the terms and conditions of an extended lease under this section, the Secretary of the Interior may—

(A) terminate the lease extension in accordance with the termination-for-cause or default provisions required under section 18.12(a) of title 36, Code of Federal Regulations (or a successor regulation); and

(B) after such termination, make the applicable property available for lease through a request for bids or a request for proposals under section 18.7 or 18.8, respectively, of that title (or successor regulations).

(4) Rule of construction.— Nothing in this subsection limits any other right of the Secretary of the Interior to terminate a lease for cause or default in accordance with the terms of the lease or applicable law.

(a) In general.— Notwithstanding the second sentence of section 18.10 of title 36, Code of Federal Regulations (as in effect on January 3, 2025), the Secretary may enter into a lease under part 18 of that title with a lease term of not more than 99 years for the redevelopment of National Park Service property, the redevelopment costs of which are expected to exceed $100,000,000, if the Secretary has determined that entering into the lease is in the best financial needs and interests of the administration of the applicable unit of the National Park System.

(b) Congressional notification required for certain leases.— In the case of a proposed lease under subsection (a) for a duration of more than 60 years, the Secretary may not enter into the proposed lease until the date that is not less than 60 days after the date on which the Secretary submits to the Committee on Energy and Natural Resources of the Senate and the Committee on Natural Resources of the House of Representatives the proposed lease.

Not later than 90 days after the date of enactment of this Act, the Secretary shall revise part 18 of title 36, Code of Federal Regulations, to reflect the authority granted under sections 2 and 3.