IB 
Union Calendar No. 816 
115TH CONGRESS 
2D SESSION 
H. R. 4731 
[Report No. 115–1049] 
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 
NOVEMBER 27, 2018 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on December 21, 2017] 
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A BILL 
To extend the retained use estate for the Caneel Bay resort 
in St. John, United States Virgin Islands, and for other 
purposes. 
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Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. EXTENSION OF RETAINED USE ESTATE. 
(a) EXTENSION REQUIRED.—Not later than 90 days 
after a request by the grantor, the Secretary of the Interior 
shall extend the retained use estate in accordance with this 
section. 
(b) REQUIREMENTS.—The extension under subsection 
(a) shall— 
(1) except as provided in paragraph (2), be effec-
tive for the 60-year period beginning on the date the 
retained use estate would, but for the extension under 
this section, expire; 
(2) be subject to the terms of the retained use es-
tate, including the right of the grantor to terminate 
the retained use estate in accordance with the terms 
thereof; and 
(3) require the grantor to pay to the United 
States, in quarterly installments for the period of the 
extension, fair market value rental for use of the 
premises for operation and management of resort fa-
cilities and services in an amount equal to— 
(A) for each of the first 15 years of the ex-
tension, a percentage of the gross revenues of the 
resort in accordance with subsections (c) and (d) 
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to be determined no later than 90 days after the 
date on which the extension is granted under 
subsection (a) by— 
(i) a written agreement between the 
Secretary and the grantor; or 
(ii) if the Secretary and the grantor 
are unable to agree on such a percentage by 
the date that the extension is granted under 
subsection (a), through binding arbitration 
using procedures specified in section 51.51 
of title 36, Code of Federal Regulations; and 
(B) for each year of the extension thereafter, 
the amount determined under subparagraph (A), 
except that— 
(i) such amount shall be adjusted if re-
quested by the Secretary or the grantor; 
(ii) any such adjustment shall be deter-
mined— 
(I) through a written agreement 
between the Secretary and the grantor; 
or 
(II) if the Secretary and the 
grantor are unable to agree on such an 
adjustment after a 60-day period for 
negotiation (or a longer period for ne-
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gotiation agreed upon by the Secretary 
and the grantor), through binding ar-
bitration between the Secretary and the 
grantor using the arbitration proce-
dures specified in section 51.51 of title 
36, Code of Federal Regulations; and 
(iii) no more than one adjustment may 
be made under this subparagraph in any 
15-year period. 
(c) CALCULATION OF FAIR MARKET VALUE RENTAL.— 
The initial payment required under subsection (b)(3)(A) 
and any adjustment under subsection (b)(3)(B) shall reflect 
the fair market value of a land lease for hotel use, as deter-
mined by an appraisal by an independent qualified ap-
praiser who is selected jointly by the Secretary and the 
grantor and shall reflect— 
(1) any restrictions on the use of the property or 
terms of the retained use estate that limit the value 
or highest and best use of the property; 
(2) any amounts expended or to be expended by 
the grantor for preservation, maintenance, restoration 
(including site restoration), improvement (including 
construction), or repair and related expenses to the 
extent that such amounts are for the resort; and 
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(3) the remaining term of the extended retained 
use estate. 
(d) PAYMENTS.—Payments under subsection (b)(3) 
shall— 
(1) be due— 
(A) except as provided in subparagraph 
(B), 60 days after the end of the applicable quar-
ter; and 
(B) in the case of the last quarter of each 
calendar year (or the last quarter before the re-
tained use estate expires), 90 days after the end 
of the calendar year (or the end of the retained 
use estate in the year that the retained use estate 
expires); 
(2) be based on actual gross revenues for the pre-
ceding quarter; 
(3) in the case of a payment due under para-
graph (1)(B), include any adjustment that may be re-
quired after an audit of the gross annual revenues for 
the preceding year; and 
(4) be deposited into the General Treasury. 
(e) DEFINITIONS.—In this section— 
(1) each of the terms ‘‘retained use estate’’ and 
‘‘resort’’ has the meaning given such term in section 
1 of Public Law 111–261 (16 U.S.C. 398d note); and 
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(2) the term ‘‘grantor’’ means the holder of the 
retained use estate. 
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Union Calendar No. 816 
115TH CONGRESS 
2D SESSION 
H. R. 4731 
[Report No. 115–1049] 
A BILL 
To extend the retained use estate for the Caneel 
Bay resort in St. John, United States Virgin Is-
lands, and for other purposes. 
NOVEMBER 27, 2018 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
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