(a)
In general— Upon the request of an owner of covered property, the Secretary shall—
(1)
convey to such owner all right, title, and interest of the United States in and to covered land; or
(2)
enter into a lease agreement with such owner for covered land.
(b)
Consideration— Any owner to which a conveyance is made under this section or who enters into a lease agreement under this section shall pay to the Secretary an amount that is not more than 150 percent of the fair market value of the covered land.
(c)
Conveyance conditions— The Secretary may not require, as a condition of conveying covered land under this section, an owner to remove any structures existing on such land.
(d)
Lease conditions— With respect to any covered land that is subject to a lease entered into under this section, the Secretary may not—
(1)
require the removal of any structures existing on such land before the date on which the lease is entered into; or
(2)
prohibit or limit the installation of any structures on such land after such date.
(e)
Lease funds— Any amounts generated from a lease agreement entered into under this section shall be used by the Secretary for infrastructure for recreational activities related to the Lake and maintenance of such infrastructure.
(f)
Liability—
(1)
Conveyance— An owner to which a conveyance is made under this section shall hold the United States harmless from any liability with respect to activities carried out, on or after the date of the conveyance, on the land conveyed. The United States shall remain responsible for any liability with respect to activities carried out, before such date, on the land conveyed.
(2)
Lease— The United States shall not be liable or responsible for damage to any structure that is installed on covered land that is subject to a lease entered into under this section.