12 2 STA T . 1 038PUBLIC LA W 110 – 23 4—M A Y 22 , 2008 ‘ ‘ (1)SURVEY.—The Se cr e ta r ys ha l lc ondu ctasur v ey dur i n gf iscal year 20 0 8 and each su b se q uent fiscal year for the p urpose of deter m ining interest and allocations for the P rairie Pothole R egion to enroll eligible land described in section 12 37 (c)(2)( B ). ‘‘(2) AN NU AL A DJ U STM ENT.—The Secretary shall ma k ean ad j ustment to the allocation for an interested State for a fiscal year , based on the results of the survey conducted under para - graph (1) for the State during the previous fiscal year. ’ ’. SEC.2 2 04 . T E RM S OFW ET LAND S RESER V E P RO G RAM EASEMENTS. Section 1237A(b)(2)(B) of the F ood Security Act of 1 9 8 5 (1 6U .S. C . 3837a(b)(2)(B)) is amended— (1) in clause (i), by striking ‘‘or’’ at the end
(2) in clause (ii), by striking ‘‘; and’’ and inserting ‘‘; or’’; and (3) by adding at the end the follo w ing new clause
‘‘(iii) to meet habitat needs of specific wildlife spe- cies; and’’. SEC. 220 5 . COMPENSAT I ON FOR EASEMENTS U NDER WETLANDS RESERVE PROGRAM. Subsection (f) of section 1237A of the Food Security Act of 1985 (16 U.S.C. 3837a) is amended to read as follows: ‘‘(f) C O M P ENSAT I ON.— ‘‘(1) D ETERMINATION.— E ffective on the date of the enact- ment of the Food, Conservation, and Energy Act of 2008, the Secretary shall pay as compensation for a conservation ease- ment acquired under this subchapter the lowest of— ‘‘(A) the fair market value of the land, as determined by the Secretary, using the Uniform Standards of Profes- sional Appraisal Practices or an area-wide market analysis or survey; ‘‘(B) the amount corresponding to a geographical cap, as determined by the Secretary in regulations; or ‘‘(C) the offer made by the landowner. ‘‘(2) FORM O F PAYMENT.—Compensation for an easement shall be provided by the Secretary in the form of a cash pay- ment, in an amount determined under paragraph (1) and speci- fied in the easement agreement. ‘‘(3) PAYMENT S CH EDULE FOR EASEMENTS.— ‘‘(A) EASEMENTS VALUED AT $50 0,000 OR LESS.—For ease- ments valued at $ 500,000 or less, the Secretary may pro- vide easement payments in not more than 30 annual pay- ments. ‘‘(B) EASEMENTS IN E X CESS OF $500,000.—For easements valued at more than $500,000, the Secretary may provide easement payments in at least 5, but not more than 30 annual payments, e x cept that, if the Secretary determines it would further the purposes of the program, the Secretary may make a lump sum payment for such an easement. ‘‘( 4 ) RESTORATION A G REEMENT PAYMENT LIMITATION.—Pay- ments made to a person or legal entity, directly or indirectly, pursuant to a restoration cost-share agreement under this sub- chapter may not exceed, in the aggregate, $50,000 per year. ‘‘(5) ENROLLMENT PROCEDURE.— L ands may be enrolled under this subchapter through the submission of bids under a procedure established by the Secretary.’’. Ef f ectiv e da te .
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