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74 



1 not likely to result in the submission of satisfactory pro- 



2 posals, and that the suspension of the depreciation provi- 



3 sions is likely to result in the submission of satisfactory 



4 proposals. 



5 (b) New Structures. — (1) On or after the date of 



6 enactment of this title, a concessioner who constructs or 



7 acquires a new, additional, or replacement structure, fix- 



8 ture, or improvement upon land owned by the United 



9 States within a park, pursuant to a concession contract, 



10 shall have an interest in such structure, fixture, or im- 



1 1 provement equivalent to the actual original cost of acquir- 



12 ing or constructing such structure, fixture, or improve- 



13 ment, less straight line depreciation over the estimated 



14 useful life of the asset according to Generally Accepted 



15 Accounting Principles: Provided, That in no event shall 



16 the estimated useful life of such asset exceed the deprecia- 



17 tion period used for such asset for Federal income tax pur- 



18 poses. 



19 (2) In the event that the contract expires or is termi- 



20 nated prior to the estimated useful life of an asset de- 



21 scribed in paragraph (1), the concessioner shall be entitled 



22 to receive from the United States or the successor conces- 



23 sioner payment equal to the value of the concessioner's 



24 interest in such structure, fixture, or improvement. A sue- 



25 cessor concessioner may not revalue the interest in such 



