Administration

(a) Subordination, exchange, modification, and termination Section 1265D(c) of the Food Security Act of 1985 (16 U.S.C. 3865d(c)) is amended— (1) by amending paragraph (2) to read as follows: (2) Modification and exchange of interest in land (A) Modification (i) Authority The Secretary may approve a modification of any interest in land, or portion of such interest, administered by the Secretary, either directly or on behalf of the Commodity Credit Corporation, under the program if the Secretary determines that the modification— (I) will support the long-term agricultural viability of the applicable farm or ranch operation and the conservation values of the applicable easement; (II) will result in equal or increased conservation values; (III) is consistent with the original intent of the easement; (IV) is consistent with the purposes of the program; and (V) is in the public interest or furthers the practical administration of the program, including correcting errors, exercising reserved rights, and increasing flexibility to recognize changes in water availability or administration. (ii) Limitation In modifying an interest in land, or portion of such interest, under this subparagraph, the Secretary may not, except in the case of a modification that includes a change to an easement to add acreage, increase any payment to an eligible entity. (iii) NEPA compliance An action taken pursuant to this subparagraph may not be considered a major Federal action under section 102(2)(C) of the National Environmental Policy Act of 1969 (42 U.S.C. 4332(2)(C)). (B) Exchange (i) Authority The Secretary may approve an exchange of any interest in land, or portion of such interest, administered by the Secretary, either directly or on behalf of the Commodity Credit Corporation, under the program if the Secretary determines that— (I) no reasonable alternative exists and the effect on the interest in land is avoided or minimized to the extent practicable; and (II) the exchange— (aa) results in equal or increased conservation values; (bb) results in equal or greater economic value to the United States; (cc) is consistent with the original intent of the easement; (dd) is consistent with the purposes of the program; and (ee) is in the public interest or furthers the practical administration of the program. (ii) Limitation In exchanging an interest in land, or portion of such interest, under this subparagraph, the Secretary may not increase any payment to an eligible entity.; and (2) by adding at the end the following: (6) De minimis adjustments (A) In general An eligible entity may make de minimis adjustments to any interest in land, or a portion of such interest, administered by the Secretary, directly or on behalf of the Commodity Credit Corporation, under the program if the adjustment— (i) furthers the practical administration of the program; and (ii) is not a subordination, modification, exchange, or termination, as determined by the Secretary. (B) Types of de minimis adjustments De minimis adjustments made under this paragraph may include title corrections and other minor adjustments, including— (i) typographical error corrections; (ii) minor changes in legal descriptions as a result of survey or mapping errors; (iii) the transfer of an interest of an eligible entity to another eligible entity; (iv) changes to a building envelope boundary; (v) relocation of easement access; (vi) authorization of temporary work areas not associated with other easement administration actions; and (vii) other adjustments determined appropriate by the Secretary. (7) Modification of eligible entity terms and conditions An eligible entity shall be authorized to modify a term or condition of an agricultural land easement that is the subject of an agreement entered into under section 1265B(b)(4)(A) if such modification does not conflict with any minimum term or condition required by the Secretary under such section.. (b) Adjusted gross income (1) Exemption Section 1265D of the Food Security Act of 1985 (16 U.S.C. 3865D) is amended by adding at the end the following: (f) Adjusted gross income exemption The adjusted gross income limitation described in section 1001D(b)(1) shall not apply to any payment or other assistance under this subtitle.. (2) Calculation Section 1001D(b) of the Food Security Act of 1985 (7 U.S.C. 1308–3a(b)) is amended by adding at the end the following: (5) Exception for compensation under ACEP For purposes of this subsection, the adjusted gross income of a person or legal entity that is a landowner of eligible land (as defined in section 1265A) shall not include any income received as compensation for the acquisition of an agricultural land easement or a wetland reserve easement on that eligible land under subtitle H of title XII..

(a) Subordination, exchange, modification, and termination Section 1265D(c) of the Food Security Act of 1985 (16 U.S.C. 3865d(c)) is amended— (1) by amending paragraph (2) to read as follows: (2) Modification and exchange of interest in land (A) Modification (i) Authority The Secretary may approve a modification of any interest in land, or portion of such interest, administered by the Secretary, either directly or on behalf of the Commodity Credit Corporation, under the program if the Secretary determines that the modification— (I) will support the long-term agricultural viability of the applicable farm or ranch operation and the conservation values of the applicable easement; (II) will result in equal or increased conservation values; (III) is consistent with the original intent of the easement; (IV) is consistent with the purposes of the program; and (V) is in the public interest or furthers the practical administration of the program, including correcting errors, exercising reserved rights, and increasing flexibility to recognize changes in water availability or administration. (ii) Limitation In modifying an interest in land, or portion of such interest, under this subparagraph, the Secretary may not, except in the case of a modification that includes a change to an easement to add acreage, increase any payment to an eligible entity. (iii) NEPA compliance An action taken pursuant to this subparagraph may not be considered a major Federal action under section 102(2)(C) of the National Environmental Policy Act of 1969 (42 U.S.C. 4332(2)(C)). (B) Exchange (i) Authority The Secretary may approve an exchange of any interest in land, or portion of such interest, administered by the Secretary, either directly or on behalf of the Commodity Credit Corporation, under the program if the Secretary determines that— (I) no reasonable alternative exists and the effect on the interest in land is avoided or minimized to the extent practicable; and (II) the exchange— (aa) results in equal or increased conservation values; (bb) results in equal or greater economic value to the United States; (cc) is consistent with the original intent of the easement; (dd) is consistent with the purposes of the program; and (ee) is in the public interest or furthers the practical administration of the program. (ii) Limitation In exchanging an interest in land, or portion of such interest, under this subparagraph, the Secretary may not increase any payment to an eligible entity.; and (2) by adding at the end the following: (6) De minimis adjustments (A) In general An eligible entity may make de minimis adjustments to any interest in land, or a portion of such interest, administered by the Secretary, directly or on behalf of the Commodity Credit Corporation, under the program if the adjustment— (i) furthers the practical administration of the program; and (ii) is not a subordination, modification, exchange, or termination, as determined by the Secretary. (B) Types of de minimis adjustments De minimis adjustments made under this paragraph may include title corrections and other minor adjustments, including— (i) typographical error corrections; (ii) minor changes in legal descriptions as a result of survey or mapping errors; (iii) the transfer of an interest of an eligible entity to another eligible entity; (iv) changes to a building envelope boundary; (v) relocation of easement access; (vi) authorization of temporary work areas not associated with other easement administration actions; and (vii) other adjustments determined appropriate by the Secretary. (7) Modification of eligible entity terms and conditions An eligible entity shall be authorized to modify a term or condition of an agricultural land easement that is the subject of an agreement entered into under section 1265B(b)(4)(A) if such modification does not conflict with any minimum term or condition required by the Secretary under such section.. (b) Adjusted gross income (1) Exemption Section 1265D of the Food Security Act of 1985 (16 U.S.C. 3865D) is amended by adding at the end the following: (f) Adjusted gross income exemption The adjusted gross income limitation described in section 1001D(b)(1) shall not apply to any payment or other assistance under this subtitle.. (2) Calculation Section 1001D(b) of the Food Security Act of 1985 (7 U.S.C. 1308–3a(b)) is amended by adding at the end the following: (5) Exception for compensation under ACEP For purposes of this subsection, the adjusted gross income of a person or legal entity that is a landowner of eligible land (as defined in section 1265A) shall not include any income received as compensation for the acquisition of an agricultural land easement or a wetland reserve easement on that eligible land under subtitle H of title XII..