Under current law, the Caneel Bay resort in the Virgin Islands National Park operates under a retained use estate (RUE), an arrangement that grants a private entity that is not the landowner managerial control over the resort. When the RUE expires in 2023, the National Park Service (NPS) will assume managerial control over the resort. H.R. 4731 would, upon request by the current RUE holder, extend the RUE for an additional 60 years.
H.R. 4731 would require the RUE holder to make payments that would be deposited into the general fund of the Treasury. Those payments would be recorded on the budget as offsetting receipts, which are recorded in the budget as reductions in direct spending. CBO estimates that enacting the bill would reduce direct spending by $3 million over the 2019-2028 period. Because enacting H.R. 4731 would affect direct spending, pay-as-you-go procedures apply. Enacting the bill would not affect revenues.
CBO estimates that enacting H.R. 4731 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2029.
H.R. 4731 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.