Federal Submerged Lands Transportation Development Act - Authorizes the Commandant of the Coast Guard to lease tidelands and submerged lands under the control of the Coast Guard for periods longer than five years. (Currently, the Commandant is limited to renting or leasing real property under the Coast Guard's control for a period of up to five years, provided that such property may not be required for immediate use, with specified amounts of rental or lease monies received to be deposited in the Treasury.)