Balanced Economic and Environmental Priorities Act of 1994

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Balanced Economic and Environmental 
Priorities Act of 1994''.

SEC. 2. ECONOMIC IMPACT ANALYSES.

    Section 4 of the Endangered Species Act of 1973 (16 U.S.C. 1533) is 
amended by adding at the end the following:
    ``(j) Economic Impact Analysis.--(1)(A) Notwithstanding any other 
provision of this Act, an officer or employee of a Federal agency shall 
not implement or enforce a designation, regulation, or recovery plan 
described in subparagraph (B) unless--
            ``(i) the Secretary has prepared an economic impact 
        analysis under this subsection with respect to the designation, 
        regulation, or recovery plan;
            ``(ii) the Secretary determines, based on that analysis, 
        that the benefits of that designation, regulation, or recovery 
        plan outweigh the costs of that act; and
            ``(iii) the Secretary has published an economic impact 
        statement describing the findings of that analysis.
    ``(B) The designation, regulations, and recovery plans referred to 
in subparagraph (A) are the following:
            ``(i) A designation of critical habitat under subsection 
        (a)(2).
            ``(ii) A protective regulation issued under subsection (d).
            ``(iii) A recovery plan developed under subsection (f).
    ``(2)(A) The Secretary shall perform an economic impact analysis in 
accordance with this paragraph with respect to each designation, 
regulation, and recovery plan described in paragraph (1)(B).
    ``(B) An economic impact analysis under this paragraph shall 
include determination of the following:
            ``(i) The economic consequences of implementing and 
        enforcing the designation, regulation, or recovery plan, 
        including the aggregate statistical data which indicates--
                    ``(I) identifiable and potential job losses or 
                diminishments resulting from that implementation and 
                enforcement,
                    ``(II) identifiable losses or diminishments in the 
                value of real property resulting from that 
                implementation and enforcement, and
                    ``(III) losses or diminishments in the value of 
                business enterprises resulting from that implementation 
                and enforcement.
            ``(ii) The effect that implementing and enforcing the 
        designation, regulation, or recovery plan will have on tax 
        revenues received by the Federal Government or by State and 
        local governments, including any revenue losses attributable to 
        losses or diminishments in value described in clause (i).
            ``(iii) The effect that implementing and enforcing the 
        designation, regulation, or recovery plan will have on outlays 
        by Federal, State, and local governments, including--
                    ``(I) effects on payments made pursuant to 
                subsection (l), and
                    ``(II) effects on expenditures required for 
                unemployment compensation, aid to families with 
                dependent children under part A of title IV of the 
                Social Security Act, medicaid under title XIX of the 
                Social Security Act, and other Federal, State, and 
                local government programs.
            ``(iv) The effect that implementing and enforcing the 
        designation, regulation, or recovery plan will have on the 
        competitive position of any individual business enterprise or 
        aggregate industry affected by that action, determined jointly 
        with the Secretary of Commerce.
            ``(v) The ecological and economic impacts of the extinction 
        of any species that implementation and enforcement is intended 
        to prevent.
            ``(vi) Any other potential economic, budgetary, or 
        ecological effects that the Secretary considers appropriate.
    ``(3) The Secretary shall determine, based on the analysis 
performed under paragraph (2), whether the costs of implementing and 
enforcing a designation, regulation, or recovery plan described in 
paragraph (1)(B) outweigh the benefits of that implementation and 
enforcement.''.

SEC. 3. LIMITATION OF ECONOMIC LOSSES CAUSED BY LISTING SPECIES AS 
              ENDANGERED SPECIES OR THREATENED SPECIES; COMPENSATION.

    Section 4 of the Endangered Species Act of 1973 (16 U.S.C. 1533), 
as amended by section 2, is amended by adding at the end the following:
    ``(k) Limitation of Losses Caused by Listing Species as Endangered 
Species or Threatened Species.--In implementing this Act with respect 
to an endangered species or threatened species included in a list 
published under subsection (c), the Secretary shall limit economic 
losses incurred by persons as a result of that implementation.
    ``(l) Compensation for Losses and Diminishments in Value.--(1) The 
Secretary shall pay to any person who incurs an economic loss as a 
result of a species being included in a list of endangered species or 
threatened species published under this section the amount of that 
loss, including--
            ``(A) any diminishment in the value of tangible or 
        intangible property, and
            ``(B) any loss resulting from the loss or diminishment of a 
        job.
    ``(2) The Secretary shall issue regulations establishing procedures 
for obtaining payments under this subsection.
    ``(3) A person may not recover any amount under this subsection for 
any de minimis or wholly speculative loss.
    ``(4) Any denial by the Secretary of an application for payment 
under this subsection may be appealed in the appropriate Federal 
district court of the United States, including any determination by the 
Secretary that a person is ineligible for payment by reason of 
paragraph (3).
    ``(5) A person (including any State or local governmental entity) 
may intervene in any proceeding under this subsection for the purpose 
of assisting the Secretary in issuing payments under this 
subsection.''.

SEC. 4. CONGRESSIONAL APPROVAL REQUIRED FOR ADDITIONS TO ENDANGERED 
              SPECIES LIST.

    (a) Approval Requirement.--Section 4(c) of the Endangered Species 
Act of 1973 (16 U.S.C. 1533(c)) is amended by adding at the end the 
following:
            ``(3) Congressional approval required.--An addition of a 
        species to the list of threatened or endangered species that is 
        maintained under this subsection shall not be effective before 
        the date of the enactment of an Act of Congress that approves 
        that addition.''.
    (b) Application.--The amendment made by subsection (a) shall apply 
to additions after the date of the enactment of this Act to the list of 
threatened or endangered species.

SEC. 5. IMPLEMENTATION.

    (a) Effective Date.--The amendments made by sections 2 and 3 shall 
be effective January 1, 1986.
    (b) Review of Prior Listings.--Not later than 1 year after the date 
of the enactment of this Act, the Secretary of the Interior shall--
            (1) review each addition on or after January 1, 1986, of a 
        species to a list of endangered species or threatened species 
        published under section 4 of the Endangered Species Act of 1973 
        (16 U.S.C. 1533);
            (2) prepare with respect to each species so added an 
        economic impact analysis and economic impact statement in 
        accordance with the amendments made by this Act; and
            (3) publish a list of all designations of critical habitat, 
        regulations, and recovery plans in effect on the date of that 
        publication, the implementation and enforcement of which is 
        prohibited by the amendments made by this Act.
    (c) Compensation for Losses.--A person may not be paid under 
section 4(l) of the Endangered Species Act of 1973, as amended by this 
Act, for any loss incurred as a result of a species being added to a 
list of endangered species or threatened species published under that 
Act during the period beginning January 1, 1986, and ending on the date 
of the enactment of this Act, except for losses incurred as a result of 
the implementation or enforcement of designations of critical habitat, 
regulations, and recovery plans that are not included in the list 
published under subsection (b)(3) of this Act.

Summary: Balanced Economic and Environmental Priorities Act of 1994 - Amends the Endangered Species Act of 1973 to prohibit a Federal officer or employee from implementing or enforcing a designation of critical habitat, an issued protective regulation, or a developed recovery plan under such Act unless the Secretary : (1) prepares an economic impact analysis with respect to such designation, regulation, or recovery plan. (2) determines that the benefits of it outweigh the costs of it. And (3) publishes an economic impact statement describing the findings of the analysis. Establishes guidelines for such economic impact analysis. Directs the Secretary to: (1) limit economic losses incurred by persons caused by listing species as endangered or threatened. And (2) compensate such persons for any diminishments in the value of tangible or intangible property, and in the loss or diminishment of a job. Requires congressional approval of any additions to the endangered species list. Directs the Secretary of the Interior to: (1) review endangered or threatened species added on or after such date to a published list of endangered or threatened species under the Endangered Species Act of 1973. (2) prepare an economic impact analysis and statement with respect to them. And (3) publish a list of all designations of critical habitat, regulations, and recovery plans in effect on the date of that publication . Prohibits a person from being paid for any loss incurred by species being added to a list of endangered species or threatened species published under the Endangered Species Act of 1973 during the period beginning January 1, 1986, and ending on the enactment of this Act, except for losses resulting from the implementation or enforcement of designations of critical habitat, regulations, and recovery plans that are not included in the list published under this Act.