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[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 1695 Introduced in Senate (IS)]

104th CONGRESS
  2d Session
                                S. 1695

   To authorize the Secretary of the Interior to assess up to $2 per 
person visiting the Grand Canyon or other national park to secure bonds 
     for capital improvements to the park, and for other purposes.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                             April 23, 1996

  Mr. McCain introduced the following bill; which was read twice and 
       referred to the Committee on Energy and Natural Resources

_______________________________________________________________________

                                 A BILL

 
   To authorize the Secretary of the Interior to assess up to $2 per 
person visiting the Grand Canyon or other national park to secure bonds 
     for capital improvements to the park, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``National Parks Capital Improvements 
Act of 1996''.

SEC. 2. DEFINITIONS.

    In this Act:
            (1) Fundraising organization.--The term ``fundraising 
        organization'' means an entity authorized to act as a 
        fundraising organization under section 3(a).
            (2) National park foundation.--The term ``National Park 
        Foundation'' means the foundation established under the Act 
        entitled ``An Act to establish the National Park Foundation'', 
        approved December 18, 1967 (16 U.S.C. 19e et seq.).
            (3) Park.--The term ``park'' means--
                    (A) the Grand Canyon National Park; and
                    (B) any other national park designated by the 
                Secretary that has an approved general management plan 
                with capital needs in excess of $5,000,000.
            (4) Secretary.--The term ``Secretary'' means the Secretary 
        of the Interior.

SEC. 3. FUNDRAISING ORGANIZATION.

    (a) In General.--The Secretary may enter into a memorandum of 
agreement under section 4 with an entity to act as an authorized 
fundraising organization for the benefit of the park.
    (b) Bonds.--The fundraising organization shall issue taxable bonds 
in return for the park surcharge collected under section 5.
    (c) Professional Standards.--The fundraising organization shall 
abide by all relevant professional standards regarding the issuance of 
securities and shall comply with all Federal and State law.
    (d) Audit.--The fundraising organization shall be subject to an 
audit by the Secretary.
    (e) No Liability for Bonds.--The United States shall not be liable 
for the security of any bonds issued by the fundraising organization.

SEC. 4. MEMORANDUM OF AGREEMENT.

    The fundraising organization shall enter into a memorandum of 
agreement that specifies--
            (1) the amount of the bond issue;
            (2) the maturity of the bonds, not to exceed 20 years;
            (3) the per capita amount required to amortize the bond 
        issue, provide for the reasonable costs of administration, and 
        maintain a sufficient reserve consistent with industry 
        standards; and
            (4) any project that will be funded with the bond proceeds 
        and the specific responsibilities of the Secretary and the 
        fundraising organization with respect to the project.

SEC. 5. PARK SURCHARGE.

    (a) In General.--Notwithstanding any other provision of law, the 
Secretary of the Interior may authorize the Superintendent of the park 
to charge and collect, in addition to the entrance fee collected 
pursuant to section 4 of the Land and Water Conservation Fund Act of 
1965 (16 U.S.C. 460l-6a), a surcharge in an amount not to exceed $2 for 
each individual charged the entrance fee.
    (b) Use.--The surcharge shall be used by the fundraising 
organization to amortize the bond issue, provide for the reasonable 
costs of administration, and maintain a sufficient reserve consistent 
with industry standards.
    (c) Excess Funds.--Any funds collected in excess of the amount 
necessary to amortize the bond issue, pay reasonable administrative 
expenses, and maintain a sufficient reserve, as determined by the bond 
underwriter, shall be remitted to the National Park Foundation to be 
used for the benefit of all units of the National Park System.

SEC. 6. USE OF BOND PROCEEDS.

    (a) Eligible Projects.--
            (1) In general.--Subject to paragraph (2), bond proceeds 
        under this Act may be used for a project for the design, 
        construction, operation, maintenance, repair, or replacement of 
        a facility in the park.
            (2) Limitation.--A project referred to in paragraph (2) 
        shall be consistent with--
                    (A) the laws governing the National Park System;
                    (B) any law governing the park; and
                    (C) the general management plan for the park.
    (b) Interest on Bond Proceeds.--Any interest earned on bond 
proceeds shall--
            (1) be used by the fundraising organization to--
                    (A) meet reserve requirements; and
                    (B) defray reasonable administrative expenses; and
            (2) to the extent funds are available in excess of the 
        amount required for paragraph (1), be remitted to the National 
        Park Foundation for the benefit of all units of the National 
        Park System.

SEC. 7. ADMINISTRATION.

    The Secretary, in consultation with the Secretary of the Treasury, 
shall issue regulations to carry out this Act.
                                 <all>
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