Page:United States Statutes at Large Volume 122.djvu/1806

 12 2 STA T . 1 783PUBLIC LA W 11 0– 2 46—J U NE 18, 2008 land l es s th e gr a zi ng v al u e of the land en c u mb ered b y the easement .‘ ‘ (B)METHODF O R DETER MINA TION OF C OM P EN S ATION. —I nma k ing a determination under sub p aragraph ( A ) , the S ecretary shall pay as compensation for a easement ac q uired under the program the lo w est of— ‘‘(i) the fair market value of the land encumbered by the easement, as determined by the Secretary, using— ‘‘(I) the U niform Standards of P rofessional Appraisal Practices or ‘‘(II) an area - wide market analysis or survey; ‘‘(ii) the amount corresponding to a geographical cap, as determined by the Secretary in regulations; or ‘‘(iii) the offer made by the landowner. ‘‘( C ) SCHED UL E.— E asement payments may be provided inupto 10 annual payments of equal or unequal amount, as agreed to by the Secretary and the owner. ‘‘( 4 ) R ESTORATION A G REEMENT PA Y MENTS.— ‘‘(A) F EDERAL SHARE OF RESTORATION.— T he Secretary shall make payments to an owner or operator under a restoration agreement of not more than 5 0 percent of the costs of carrying out measures and practices necessary to restore functions and values of that land. ‘‘(B) PAYMENT LIMITATION.—Payments made under 1 or more restoration agreements to a person or legal entity, directly or indirectly, may not e x ceed, in the aggregate, $ 50,000 per year. ‘‘(5) PAYMENTS TO OTHERS.—If an owner or operator who is entitled to a payment under the program dies, becomes incompetent, is otherwise unable to receive the payment, or is succeeded by another person who renders or completes the required performance, the Secretary shall make the payment, in accordance with regulations promulgated by the Secretary and without regard to any other provision of law, in such manner as the Secretary determines is fair and reasonable in light of all the circumstances. ‘ ‘ SEC.1238Q . D E L E GATION O F D U T Y . ‘‘(a) AUTHORITY TO D ELEGATE.—The Secretary may delegate a duty under the program— ‘‘(1) by transferring title of ownership to an easement to an eligible entity to hold and enforce; or ‘‘( 2 ) by entering into a cooperative agreement with an eligible entity for the eligible entity to own, write, and enforce an easement. ‘‘(b) ELIGI B LE ENTITY DEFINED.—In this section, the term ‘eligible entity ’ means— ‘‘(1) an agency of State or local government or an Indian tribe; or ‘‘(2) an organization that— ‘‘(A) is organized for, and at all times since the forma- tion of the organization has been operated principally for, one or more of the conservation purposes specified in clause (i), (ii), (iii), or (iv) of section 1 7 0(h)(4)(A) of the Internal Revenue Code of 1 986 16USC38 38 q.

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