Page:United States Statutes at Large Volume 122.djvu/1800

 12 2 STA T . 1 7 77 PUBLIC LA W 11 0– 2 46—J U NE 1 8, 2008 (i i )bystr i k i ngclau s e ( v )an d inserting t h e fo l - lo w ing new clauses

‘(v) forest land that — ‘‘( I ) contributes to the econo m ic viability of an agricultural o p eration or ‘‘(II) serves as a buffer to protect an agricul- tural operation from development; and ‘‘(vi) land that is incidental to land described in clauses (i) through (v) , if such land is necessary for the efficient administration of a conservation easement, as determined by the S ecretary .’ ’. (b) FARML A NDP R OTEC T I ON.—Section 1238 I of the Food Security A ctof1 9 8 5 (1 6U .S. C . 3838i) is amended to read as follows: ‘ ‘ SEC.1238I . FARML A NDP R OT ECTION PRO G RAM. ‘‘(a) ES TA B LIS H MENT.— T he Secretary shall establish and carry out a farmland protection program under which the Secretary shall facilitate and provide funding for the purchase of conservation easements or other interests in eligible land. ‘‘(b) P U R P OSE.—The purpose of the program is to protect the agricultural use and related conservation values of eligible land by limiting nonagricultural uses of that land. ‘‘(c) COST-SHARE ASSISTANCE.— ‘‘(1) PRO V ISION O F ASSISTANCE.—The Secretary shall pro- vide cost-share assistance to eligible entities for purchasing a conservation easement or other interest in eligible land. ‘‘(2) FEDERAL SHARE.—The share of the cost provided by the Secretary for purchasing a conservation easement or other interest in eligible land shall not e x ceed 5 0 percent of the appraised fair market value of the conservation easement or other interest in eligible land. ‘‘(3) N ON-FEDERAL SHARE.— ‘‘(A) SHARE PROVIDED B Y ELI G IBLE ENTITY.—The eligible entity shall provide a share of the cost of purchasing a conservation easement or other interest in eligible land in an amount that is not less than 25 percent of the ac q uisition purchase price. ‘‘( B ) L ANDO W NER CONTRIBUTION.—As part of the non- Federal share of the cost of purchasing a conservation easement or other interest in eligible land, an eligible entity may include a charitable donation or qualified con- servation contribution (as defined by section 1 7 0(h) of the Internal R evenue Code of 1986) from the private landowner from which the conservation easement or other interest in land will be purchased. ‘‘(d) D ETERMINATION OF FAIR M AR K ET V ALUE.—Effective on the date of enactment of the Food, Conservation, and Energy Act of 2008, the fair market value of the conservation easement or other interest in eligible land shall be determined on the basis of an appraisal using an industry approved method, selected by the eligible entity and approved by the Secretary. ‘‘(e) BIDDING DOWN PROHIBITED.—If the Secretary determines that 2 or more applications for cost-share assistance are comparable in achieving the purpose of the program, the Secretary shall not assign a higher priority to any 1 of those applications solely on the basis of lesser cost to the program. ‘‘(f) CONDITION ON ASSISTANCE.— Ef f ectiv e da te .

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