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1 ture, or improvement as defined in paragraph (1), except 



2 that the value of the possessory interest as of the termi- 



3 nation date of the first contract expiring after the date 



4 of enactment of this title shall be used as the basis for 



5 depreciation, in lieu of the actual original cost of such 



6 structure, fixture, or improvement. 



7 (ii) Notwithstanding Generally Accepted Accounting 



8 Principles, a concessioner with a possessory interest as 



9 provided in subsection (a) may, at the termination date 



10 of the first contract expiring after the date of enactment 



11 of this Act, re-estimate the useful life of the applicable 



12 structure, fixture, or improvement, consistent with sub- 



13 section (b): Provided, That the estimated useful life of 



14 such structure, fixture, or improvement shall not there- 



15 after be reestablished or revalued. 



16 (B) If the Secretary determines during the competi- 



17 tive selection process that all proposals submitted either 



18 fail to meet the minimum requirements or are rejected (as 



19 provided in section 505), the Secretary may, solely with 



20 respect to a structure, fixture, or improvement covered 



21 under this paragraph, suspend the depreciation provisions 



22 of subsection (b)(1) for the duration of the contract: Pro- 



23 vided, That the Secretary may suspend such depreciation 



24 provisions only if the Secretary determines that the estab- 



25 lishment of other new minimum contract requirements is 



