National Park System Long-Term Lease Investment Act

This legislation grants the Secretary of the Interior , through the National Park Service, the authority to extend specific leases within units of the National Park System. Significantly, these extensions can be made without complying with competitive bidding requirements that are typically mandated by federal regulations. For a lease to be eligible, the lessee must have held it for at least five years and be in full compliance with all terms and conditions. Furthermore, the National Park Service Director must determine that extending the lease is in the best interests of the administration of the applicable park unit. The bill also mandates the Secretary to revise relevant federal regulations within 90 days to reflect this new authority.