Amends the Water Resources Development Act of 1992 (WRDA) to authorize the Secretary of the Army to: (1) enter into cooperative agreements with non-federal public and private entities to provide for the maintenance, development, or construction of recreation facilities at water resource development projects under the Secretary's jurisdiction; and (2) permit any such entity to collect fees for the use of recreation sites and facilities, to retain up to 50% of the fees collected to pay the entity's administrative costs, and to reinvest the balance of the fees for the operation, maintenance, development, or construction of recreation facilities or the management of natural resources on any project lands at the lake or reservoir where such fees were collected.
Authorizes a local interest or nonprofit entity that has been granted a lease of lands at a public recreation area located at a lake or reservoir under the jurisdiction of the Corps of Engineers, and that has entered into an agreement with the Corps to collect and reinvest 50% of the fees for operation, maintenance, development, or construction of recreation facilities and management of natural resources at on such lands, to retain up to 50% of the fees to pay administrative costs.