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H.R. 2773IntroducedHouse · nowSenatePresidentLawIn committee
Sec. 3 · H.R. 2773

Renegotiation of conservation easements

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At the request of an owner of land that is subject to an eligible conservation easement, the Secretary shall— (1) not later the 6 months after the Secretary receives the request from the landowner, provide to the landowner— (A) a detailed map of the easement; and (B) notice of the current fair market value of the easement as determined by the Secretary; and (2) renegotiate the terms of the eligible conservation easement, including— (A) a term not longer than 30 years; and (B) payment by the Secretary to the landowner in an amount equal to the fair market value of the easement, as determined by the Secretary under paragraph (1)(B), minus the amount paid by the Secretary for the eligible conservation easement being renegotiated (adjusted for inflation); or (3) allow the landowner to buy back the eligible conservation easement or a portion of the eligible conservation easement at fair market value, as determined by the Secretary.