SECTION 1. CANEEL BAY LEASE AUTHORIZATION. 
(a) DEFINITIONS.—In this section: 
(1) PARK.—The term ‘‘Park’’ means the Virgin 
Islands National Park. 
(2) RESORT.—The term ‘‘resort’’ means the 
Caneel Bay resort on the island of St. John in the 
Park. 
(3) RETAINED
USE
ESTATE.—The term ‘‘re-
tained use estate’’ means the retained use estate for 
the Caneel Bay property on the island of St. John 
entered into between the Jackson Hole Preserve and 
the United States on September 30, 1983. 
(4) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of the Interior. 
(b) LEASE AUTHORIZATION.— 
(1) IN GENERAL.—If the Secretary determines 
that the long-term benefit to the Park would be 
greater by entering into a lease with the owner of 
the retained use estate than by authorizing a conces-
sion contract upon the termination of the retained 
use estate, the Secretary may enter into a lease for 
the operation and management of the resort. 
(2) ACQUISITIONS.—The Secretary may— 
(A) acquire associated property from the 
owner of the retained use estate; and
(B) on the acquisition of property under 
subparagraph (A), administer the property as 
part of the Park. 
(3) AUTHORITY.—Except as otherwise provided 
by this section, a lease shall be in accordance with 
subsection (k) of section 3 of Public Law 91–383 
(16 U.S.C. 1a–2(k)), notwithstanding paragraph (2) 
of that subsection. 
(4) TERMS AND CONDITIONS.—A lease author-
ized under this section shall— 
(A) be for the minimum number of years 
practicable, taking into consideration the need 
for the lessee to secure financing for necessary 
capital improvements to the resort, but in no 
event shall the term of the lease exceed 40 
years; 
(B) prohibit any transfer, assignment, or 
sale of the lease or otherwise convey or pledge 
any interest in the lease with prior written noti-
fication to, and approval by the Secretary; 
(C) ensure that the general character of 
the resort property remains unchanged, includ-
ing a prohibition against— 
(i) any increase in the overall size of 
the resort; or
(ii) any increase in the number of 
guest accommodations available at the re-
sort; 
(D) prohibit the sale of partial ownership 
shares or timeshares in the resort; and 
(E) include any other provisions deter-
mined by the Secretary to be necessary to pro-
tect the Park and the public interest. 
(5) RENTAL
AMOUNTS.—In determining the 
fair market value rental of the lease required under 
section 3(k)(4) of Public Law 91–383 (16 U.S.C. 
1a–2(k)(4)), the Secretary shall take into consider-
ation— 
(A) the value of any associated property 
conveyed to the United States; and 
(B) the value, if any, of the relinquished 
term of the retained use estate. 
(6) USE OF PROCEEDS.—Rental amounts paid 
to the United States under a lease shall be available 
to the Secretary, without further appropriation, for 
visitor services and resource protection within the 
Park. 
(7) CONGRESSIONAL NOTIFICATION.—The Sec-
retary shall submit a proposed lease under this sec-
tion to the Committee on Energy and Natural Re-
sources of the Senate and the Committee on Natural 
Resources of the House of Representatives at least 
60 days before the effective date of the lease. 
(8) RENEWAL.—A lease entered into under this 
section may not be extended or renewed. 
(9) TERMINATION.—Upon the termination of a 
lease entered into under this section, if the Secretary 
determines the continuation of commercial services 
at the resort to be appropriate, the services shall be 
provided in accordance with the National Park Serv-
ice Concessions Management Improvement Act of 
1998 (16 U.S.C. 5951 et seq.). 
(c) RETAINED USE ESTATE.— 
(1) IN GENERAL.—As a condition of the lease, 
the owner of the retained use estate shall terminate, 
extinguish, and relinquish to the Secretary all rights 
under the retained use estate and shall transfer, 
without consideration, ownership of improvements 
on the retained use estate to the National Park 
Service. 
(2) APPRAISAL.— 
(A) IN GENERAL.—The Secretary shall re-
quire an appraisal by an independent, qualified 
appraiser that is agreed to by the Secretary and 
the owner of the retained use estate to deter-
mine the value, if any, of the relinquished term 
of the retained use estate. 
(B) REQUIREMENTS.—An appraisal under 
paragraph (1) shall be conducted in accordance 
with— 
(i) the Uniform Appraisal Standards 
for Federal Land Acquisitions; and 
(ii) the Uniform Standards of Profes-
sional Appraisal Practice. 
Passed the House of Representatives February 23, 
2009. 
Attest: 
Clerk.