National Parks Capital Improvements Act of 1999

[AI summary unavailable — showing source text] National Parks Capital Improvements Act of 1999 - Authorizes the Secretary of the Interior to enter into a memorandum of agreement with an entity to act as an authorized fund raising organization for the benefit of the Grand Canyon National Park and any other national park designated by the Secretary that has an approved general management plan with capital needs in excess of $5 million. Requires the organization to issue taxable bonds in return for a park surcharge or set-aside. Exempts the United States from liability for such bonds unless the surcharge is not imposed for any reason or if it is reduced or eliminated in which case the full faith and credit of the United States is pledged to bond payment. Authorizes the Secretary to: (1) permit the Superintendent of the park to charge and collect, in addition to the entrance fee, a surcharge of not to exceed $2; or (2) set aside not more than $2 for each entrance fee. Requires: (1) the surcharge or set-aside to be used by the organization to amortize the bond issue, to provide for the reasonable costs of administration, and to maintain a sufficient reserve consistent with industry standards; and (2) any excess funds to be remitted …