The bill would limit new conservation easements made by the Secretary of the Interior to terms of 30 years or less. For an eligible easement, a landowner could ask the Secretary for a detailed map and the current fair market value within six months. The Secretary would then renegotiate the easement, including a term of no more than 30 years and a payment based on the easement’s current value and the inflation-adjusted original payment, or allow the landowner to buy back all or part of it at fair market value. Eligible easements are those in effect for more than 30 years or those put in place before 1977 without an official corresponding map. The bill excludes agreements with Indian Tribes and agreements related to utilities.
If you own land covered by an eligible easement, the bill would let you request renegotiation or a buyback option. The Secretary would have to notify landowners before their easements become eligible. Other landowners would be subject to a 30-year limit on new easements made under the bill.
The bill provides for a possible payment to a landowner during renegotiation and requires a landowner buying back an easement to pay its fair market value. It does not provide a total cost estimate.
No publicly available information.
No publicly available information.