170 



22 



1 ral Resources of the United States Senate and the Com- 



2 mittee on Resources of the United States House of Rep- 



3 resentatives of such proposal. Approval of such proposal, 



4 if granted by the Secretary, shall not take effect until sixty 



5 days after the date of notification of both Committees. 



6 SEC. 12. PROTECTION OF CONCESSIONER INVESTMENT. 



7 (a) Curkp:xt Contract. — (1) A concessioner who 



8 before the date of the enactment of this Act has acquired 



9 or constructed, or is required under an existing- concession 



10 contract to commence acquisition or construction of any 



1 1 sti-ucture, fixture, or improvement upon land o\\iied by the 



12 United States \vithin a park, pursuant to such contract, 



13 shall have a possessory interest therein, to the extent pro- 



14 \ided by such contract. 



15 (2) Unless otherwise provided in such contract, said 



16 possessory interest shall not be extingruished by the expira- 



17 tion or termination of the contract and may not be taken 



18 for public use without just compensation. Such possessoiy^ 



19 interest may be assigfiied, transferred, encumbered, or re- 



20 linquished. 



21 (3) Upon the termination of a concession contract in 



22 effect before the date of enactment of this Act, the Sec- 



23 retary shall determine the value of any outstanding" 



24 possessory interest applicable to the contract, such value 



25 to be determined foi- all purposes on the basis of applicable 



