National Park System Long-Term Lease Investment Act

This legislation empowers the Secretary of the Interior, through the National Park Service, to extend specific leases within units of the National Park System. This authority allows for extensions without adhering to the standard competitive bidding requirements outlined in sections 18.7 or 18.8 of title 36, Code of Federal Regulations. To qualify for such an extension, the lessee must have initially entered into the lease at least five years before the extension takes effect and must be in full compliance with all lease terms and conditions. Furthermore, the Secretary must determine that extending the lease serves the best interests of the administration of the applicable National Park System unit. The bill also mandates that the Secretary revise part 18 of title 36, Code of Federal Regulations, within 90 days of enactment to incorporate this new authority.