(This measure has not been amended since it was reported to Senate on March 2, 2010. The summary of that version is repeated here.)
Authorizes the Secretary of the Interior, if the long-term benefit to the Virgin Islands National Park would be greater by entering into a lease than by authorizing a concession contract, to enter into a lease with the owner of the retained use estate for the operation and management of the Caneel Bay resort on the island in the Park.
Allows the Secretary to acquire associated property.
Sets forth the terms and conditions for the lease authorized by this Act, including provisions ensuring protection of the natural, cultural, and historic features of the resort and associated property, consistent with the laws and policies applicable to property managed by the National Park Service (NPS).
Instructs the Secretary, in determining the fair market value rental of the lease, to take into consideration: (1) the value of any associated property conveyed; and (2) the value, if any, of the relinquished term of the retained use estate.
Makes rental amounts paid to the United States under the lease available for visitor services and resource protection within the Virgin Islands National Park.
Requires the Secretary to submit a proposed lease to Congress at least 60 days before the award of the lease.
Prohibits the extension or renewal of a lease entered into under this Act.
Requires, upon the termination of such a lease, that if the Secretary determines the continuation of commercial services at the resort to be appropriate, such services shall be provided in accordance with the National Park Service Concessions Management Improvement Act of 1998.
Requires the owner of the retained use estate to terminate, extinguish, and relinquish to the Secretary all rights under the retained use estate and transfer, without consideration, ownership of improvements on the retained use estate to the NPS.
Requires an appraisal that is agreed to by the Secretary and the owner to determine the value, if any, of the relinquished term of the retained use estate, to be conducted in accordance with this Act.