1. Short title This Act may be cited as the Table Rock Lake Property Flexibility Act . 2. Table Rock Lake lease agreements (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