This bill prohibits the Department of the Interior from acquiring land that would increase the total acreage of federal land in the Virgin Islands National Park on St. John, U.S. Virgin Islands.
If Interior takes into federal ownership nonfederal land that results in an increase of the total acreage of federal land in the park, it must convey out of federal ownership at least an equal acreage via sale, exchange, or donation.
Any sale of federal land under this bill shall be offered for sale
not later than one year after Interior takes into federal ownership nonfederal land that results in an increase of the total acreage of federal land in the park,
subject to valid existing rights,
at fair market value (with an exception), and
at a price that is reduced by 10% each month that the federal land is not sold or under contract to be sold by six months after the federal land was first offered for sale.
If the value of the federal land that is part of a land exchange is less than the value of the nonfederal land for which it is exchanged, the value of the exchanged land must be equalized by a cash payment.
