1. No net increase of Federal land in the Virgin Islands National Park on St. John (a) In general Notwithstanding any other provision of law, the Secretary may not acquire any land that would increase the total acreage of Federal land in the Park, except as provided in this Act. (b) Required land conveyances If the Secretary takes into Federal ownership non-Federal land that results in an increase of the total acreage of Federal land in the Park, the Secretary shall convey out of Federal ownership at least an equal acreage of Federal land in the Park, via sale, exchange, or donation. (c) Sale of land (1) In general Federal land sold pursuant to subsection (b) shall be offered for sale— (A) not later than 1 year after the Secretary takes into Federal ownership non-Federal land that results in an increase of the total acreage of Federal land in the Park; (B) subject to valid existing rights; (C) except as provided in subparagraph (D), at fair market value (based on local comparable sales); and (D) at a price that is reduced by 10 percent each month that the Federal land is not sold or under contract to be sold by the date that is 6 months after the Federal land was first offered for sale. (2) Price reduction Time periods during which Federal land is under contract for sale or withdrawn from the market shall not be counted for the purposes of price reduction under paragraph (1)(D). (d) Land Exchange values If the value of the Federal land that is part of a land exchange pursuant to subsection (b) is less than the value of the non-Federal land for which it is exchanged, the value of the exchanged lands shall be equalized by a cash payment. (e) Definitions In this section— (1) the term Park means the Virgin Islands National Park on St. John, United States Virgin Islands; and (2) the term Secretary means the Secretary of the Interior.