To direct the Secretary of the Interior to convey to the State of Florida certain lands under the administrative jurisdiction of the United States Fish and Wildlife Service, for use as a State Park.

Requires Florida to continue to preserve and manage wildlife on Egmont Key as part of the agreement. Allows the Secretary to require additional terms and conditions as deemed appropriate, except that the Secretary may not require Florida to restore or preserve any historic resource on the land conveyed.

Requires the Secretary to provide written notification to Florida regarding any impending reversion of the land for a breaching of the terms of the conveyance, and allow Florida to take corrective action.