I 

115TH CONGRESS 

1ST SESSION H. R. 4731 

To extend the retained use estate for the Caneel Bay resort in St. John, 

United States Virgin Islands, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

DECEMBER 21, 2017 

Ms. PLASKETT introduced the following bill; which was referred to the 

Committee on Natural Resources 

A BILL 

To extend the retained use estate for the Caneel Bay resort 

in St. John, United States Virgin Islands, and for other 

purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. EXTENSION OF RETAINED USE ESTATE. 

4 (a) EXTENSION REQUIRED.—Not later than 90 days 

5 after a request by the grantor, the Secretary of the Inte6 rior shall extend the retained use estate in accordance with 

7 this section. 

8 (b) REQUIREMENTS.—The extension under sub9 section (a) shall— 


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1 (1) except as provided in paragraph (2), be ef2 fective for the 60-year period beginning on the date 

3 the retained use estate would, but for the extension 

4 under this section, expire; 

5 (2) be subject to the terms of the retained use 

6 estate, including the right of the grantor to termi7 nate the retained use estate in accordance with the 

8 terms thereof; and 

9 (3) require the grantor to pay to the United 

10 States, in quarterly installments for the period of 

11 the extension, fair market value rental in an amount 

12 equal to— 

13 (A) for each of the first 15 years of the ex14 tension, 1.2 percent of the gross revenues of the 

15 resort in accordance with subsection (c); and 

16 (B) for each year of the extension there17 after, the amount determined under subpara18 graph (A), except that— 

19 (i) such amount shall be adjusted if 

20 requested by the Secretary or the grantor; 

21 (ii) any such adjustment shall be de22 termined— 

23 (I) through an agreement be24 tween the Secretary and the grantor; 

25 or 


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1 (II) if the Secretary and the 

2 grantor are unable to agree on such 

3 an adjustment after a 60-day period 

4 for negotiation (or a longer period for 

5 negotiation agreed upon by the Sec6 retary and the grantor), through bind7 ing arbitration between the Secretary 

8 and the grantor using the arbitration 

9 procedures specified in section 51.51 

10 of title 36, Code of Federal Regula11 tions; 

12 (iii) such adjustment shall take into 

13 account any amounts expended or to be ex14 pended by the grantor for preservation, 

15 maintenance, restoration, improvement, or 

16 repair and related expenses specified in 

17 section 102102(d)(2) of title 54, United 

18 States Code, to the extent such amounts 

19 are for the resort; and 

20 (iv) no more than one adjustment may 

21 be made under this subparagraph in any 

22 15-year period. 

23 (c) PAYMENTS.—Payments under subsection (b)(3) 

24 shall— 

25 (1) be due— 


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1 (A) except as provided in subparagraph 

2 (B), 60 days after the end of the applicable 

3 quarter; and 

4 (B) in the case of the last quarter of each 

5 calendar year (or the last quarter before the re6 tained use estate expires), 90 days after the end 

7 of the calendar year (or the end of the retained 

8 use estate in the year that the retained use es9 tate expires); 

10 (2) be based on actual gross revenues for the 

11 preceding quarter; 

12 (3) in the case of a payment due under para13 graph (1)(B), include any adjustment that may be 

14 required after an audit of the gross annual revenues 

15 for the preceding year; and 

16 (4) be deposited into the General Treasury. 

17 (d) DEFINITIONS.—In this section— 

18 (1) each of the terms ‘‘retained use estate’’ and 

19 ‘‘resort’’ has the meaning given such term in section 

20 1 of Public Law 111–261 (16 U.S.C. 398d note); 

21 and 

22 (2) the term ‘‘grantor’’ means the holder of the 

23 retained use estate. 

Æ 


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