S. 2498 · Passed Senate · Public Lands and Natural Resources

National Park System Long-Term Lease Investment Act

What it does

Authorizes the Secretary of the Interior to extend existing National Park System leases beyond their original terms without competitive bidding if the lessee has held the lease for at least 5 years and remains in compliance.
Requires the Secretary to publish a 60-day notice inviting letters of interest from competing entities before extending a lease and to open bidding if a competing offer appears superior.
Mandates congressional notification at least 30 days before extending any lease for more than 10 years.
Permits the Secretary to enter into new National Park System leases with terms of up to 99 years for redevelopment projects with expected costs exceeding $100,000,000.
Requires the National Park Service to conduct a mid-term compliance review at the midpoint of extended leases and authorizes termination if the lessee fails to meet lease obligations.

Oct 5, 2026: Held at the desk.

Committee: Senate Energy and Natural Resources