H.R. 4931: National Park System Long-Term Lease Investment Act

The National Park System Long-Term Lease Investment Act allows the Secretary of the Interior to extend certain existing leases for properties within the National Park System without requiring a bidding process. This legislation specifies that:

Eligibility for Lease Extensions

• The lease must have been entered into at least 5 years prior to the extension.
• The lessee (the person or entity leasing the property) must be in compliance with the lease terms.
• The Director of the National Park Service must determine that extending the lease is in the best interests of the park unit involved.

Regulatory Changes

Within 90 days of the Act becoming law, the Secretary of the Interior is required to update the relevant regulations to include this new authority to extend leases without opening them to bidding.

Overall Purpose

The primary aim of this bill is to provide a mechanism for the extension of long-term leases in a way that could streamline management and operational consistency within national parks.

Relevant Companies