S. 2498: National Park System Long-Term Lease Investment Act

The National Park System Long-Term Lease Investment Act allows the Secretary of the Interior, through the National Park Service, to extend certain leases without the need for public bidding. Here is a breakdown of the main points of the bill:

Key Provisions

• Lease Extension Authority: The Secretary can extend leases that were entered into more than five years prior to the extension date. The lessee must also be compliant with the terms of the lease.
• Best Interests Determination: The Secretary must determine that extending the lease is in the best interests of the specific National Park unit involved.
• Regulatory Revision: Within 90 days of the bill’s enactment, the Secretary is required to revise existing regulations to incorporate the new authority provided for lease extensions.

Lease Requirements

For a lease to qualify for extension under this bill, the following conditions apply:

• The lease must have been originally entered into at least five years before the proposed extension.
• The lessee must be abiding by all terms and conditions of the lease at the time of extension.

Objective of the Bill

The primary goal of this legislation is to streamline the process for extending leases within national parks. By removing the requirement for public bidding, the bill aims to provide flexibility in managing long-term leases, potentially benefitting both the government and the lessees involved.

Implementation Timeline

Should the bill pass, the Secretary would need to act quickly to revise the applicable regulations within a specified time frame, ensuring that the new procedures are in place and operational.

Relevant Companies

• None found