Lester Nichols Presque Isle Light Station Act of 2006 - Directs the Commandant of the Coast Guard to modify, in compliance with the Omnibus Consolidated Appropriations Act, 1997, the 2004 Agreement for Outgoing Loans (AOL) with Presque Isle Township, Michigan, in order to provide for return of the Historic Third Order Fresnel Lens to the lantern room atop the Presque Isle Light Station Lighthouse.
Declares that: (1) the United States shall retain ownership of the Lens; and (2) the active aid to navigation at the Lighthouse, together with associated electronic and lighthouse equipment, shall continue to be operated and maintained by the United States within the Lens.