173 



25 



1 Provided, however, That nothing- in this para^'aph shall 



2 be consti-ued to require the Secretary to establish a mini- 



3 mum franchise fee at a level below the franchise fee in 



4 effect for such contract on the day before the expiration 



5 date of the previous contract. 



6 (c) New Structures. — (1) On or after the date of 



7 enactment of this Act, a concessioner who constructs or 



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



9 ture, or improvement upon land owned by the United 



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



11 shall have an interest in such stnicture, fixture, or im- 



1 2 provement equivalent to the actual original cost of acquir- 



13 ing or constructing^ such structure, fixture, or improve- 



14 ment, less straig:ht line depreciation over the estimated 



15 useful life of the asset according to Generally Accepted 



16 Accounting: Principles: Provided, That in no event shall 



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



1 8 tion period used for such asset for Federal income tax pur- 



19 poses. 



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



21 nated prior to the recovery of such costs, the concessioner 



22 shall be entitled to receive from the United States or the 



23 successor concessioner payment equal to the value of the 



24 concessioner's interest in such structure, fixture, or im- 



25 provement. A successor concessioner may not revalue the 



