,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #dgca  ,,in ,,the ,,house ,,of  
,,representatives  ,december #ba1       
#bjag,ms4 ,plaskett introduced the      
following bill2 which was referred to   
the ,committee on ,natural ,resources   
,a ,,bill  ,to extend the retained use  
estate for the ,caneel ,bay resort in   
,st4 ,john1 ,united ,states ,virgin     
,islands1 and for other purposes4  #a4  
,extension of retained use estate  7a7  
,extension required ,not later than #ij 
days after a request by the grantor1 the
 ,secretary of the ,interior shall      
extend the retained use estate in       
accordance with this section4  7b7      
,requirements ,the extension under      
subsection 7a7 shall-- 7#a7 except as   
provided in paragraph 7#b71 be effective
 for the #fj-year period beginning on   
the date the retained use estate would1 
but for the extension under this        
section1 expire2  7#b7 be subject to the
 terms of the retained use estate1      
including the right of the grantor to   

terminate the retained use estate in    
accordance with the terms thereof2 and  
7#c7 require the grantor to pay to the  
,united ,states1 in quarterly           
installments for the period of the      
extension1 fair market value rental in  
an amount equal to--  7,a7 for each of  
the first #ae years of the extension1   
#a4b percent of the gross revenues of   
the resort in accordance with subsection
 7c72 and  7,b7 for each year of the    
extension thereafter1 the amount        
determined under subparagraph 7,a71     
except that--  7i7 such amount shall be 
adjusted if requested by the ,secretary 
or the grantor2  7ii7 any such          
adjustment shall be determined--  7,i7  
through an agreement between the        
,secretary and the grantor2 or  7,,ii7  
if the ,secretary and the grantor are   
unable to agree on such an adjustment   
after a #fj-;day period for negotiation 
7or a longer period for negotiation     
agreed upon by the ,secretary and the   
grantor71 through binding arbitration   

between the ,secretary and the grantor  
using the arbitration procedures        
specified in section #ea4ea of title    
#cf1 ,code of ,federal ,regulations2    
7iii7 such adjustment shall take into   
account any amounts expended or to be   
expended by the grantor for             
preservation1 maintenance1 restoration1 
improvement1 or repair and related      
expenses specified in section           
#ajbajb7;d77#b7 of title #ed1 ,united   
,states ,code1 to the extent such       
amounts are for the resort2 and  7iv7 no
 more than one adjustment may be made   
under this subparagraph in any #ae-year 
period4  7c7 ,payments ,payments under  
subsection 7b77#c7 shall--  7#a7 be     
due-- 7,a7 except as provided in        
subparagraph 7,b71 #fj days after the   
end of the applicable quarter2 and  7,b7
 in the case of the last quarter of each
 calendar year 7or the last quarter     
before the retained use estate expires71
 #ij days after the end of the calendar 
year 7or the end of the retained use    

estate in the year that the retained use
 estate expires72  7#b7 be based on     
actual gross revenues for the preceding 
quarter2  7#c7 in the case of a payment 
due under paragraph 7#a77;,b71 include  
any adjustment that may be required     
after an audit of the gross annual      
revenues for the preceding year2 and    
7#d7 be deposited into the ,general     
,treasury4  7d7 ,definitions ,in this   
section--  7#a7 each of the terms       
retained use estate and resort has the  
meaning given such term in section #a of
 ,public ,law #aaa-bfa 7#af ,u4,s4,c4   
#cih;d note72 and  7#b7 the term grantor
 means the holder of the retained use   
estate4