(C) such amounts as may be necessary (in
addition to amounts used pursuant to subpara-
graphs (A) and (B)) to delineate wetlands
under 
that 
program 
in 
watersheds 
and
ecosystems for which the need for delineation is
particularly acute, such as where wetlands are
particularly difficult to identify or where pres-
sure for development of wetlands is intense, by
as soon as practicable after the date of the en-
actment of this Act.
(2) UPDATING
MAPS.—The Director of the
United States Fish and Wildlife Service shall update
each map prepared under the existing wetlands map-
ping program at least once—
(A) in the 15-year period beginning on the
date of the completion of the map, and
(B) in every 15-year period thereafter.
(e) FUNDING TO ASSIST SMALL LANDOWNERS WITH
WETLANDS DELINEATION.—Of amounts appropriated for
each fiscal year beginning after the date of enactment of
this Act for administration of section 404 of the Federal
Water Pollution Control Act (33 U.S.C. 1344), the Sec-
retary of the Army shall use such amounts as are nec-
essary, but not to exceed $5,000,000, to assist landowners
who lack the financial capacity to do wetlands delineations
needed to apply for permits under that section. The Sec-
retary may provide such assistance either by providing
technical assistance or by performing delineations. Within
180 days after the date of the enactment of this Act the
Secretary shall issue regulations defining which land-
owners are eligible for such assistance.
SEC. 202. REVISIONS TO FEDERAL WETLANDS DELINEA-
TION PROCEDURES.
After the date of the enactment of this Act, no revi-
sions to or clarifications of any Federal manual for identi-
fying and delineating jurisdictional wetlands shall be
adopted, and no guidance or regulations related to the def-
inition, delineation, or identification of wetlands shall be
issued, until the National Academy of Sciences has com-
pleted the study of wetlands authorized by Public Law
102–389. All subsequent revisions to any Federal manual
for the identification and delineation of wetlands shall take
into consideration the scientific and technical rec-
ommendations of the National Academy of Sciences.
TITLE III—WETLANDS
RESTORATION PROGRAM
SEC. 301. WETLANDS RESTORATION PILOT PROGRAM.
The Secretary, in cooperation with the Administrator,
the Director of the United States Fish and Wildlife Serv-
ice, and appropriate State and local government entities,
shall initiate, with opportunity for public notice and com-
ment, a pilot program of wetlands restoration. The pur-
poses of the pilot program are—
(1) to identify areas where the restoration of
significant wetland acreage and functions, including
fish and wildlife habitat, water quality protection,
and natural hydrologic functions, could contribute
substantially to preserving the quantity and quality
of the Nation’s wetlands;
(2) to test methods and techniques for wetlands
restoration in such areas, and in areas previously
identified as suitable for restoration; and
(3) to develop a means of evaluating the success
over the long term of such wetlands restoration ef-
forts.
SEC. 302. SENSE OF CONGRESS CONCERNING WETLANDS
RESERVE PROGRAM.
It is the sense of Congress that the Wetlands Reserve
Program authorized by the Food, Agriculture, Conserva-
tion and Trade Act of 1990 is an effective wetlands con-
servation and restoration program which has the potential
to benefit agriculturalists, rural communities, and the Na-
tion’s wetlands resource base. Further, it is the sense of
Congress that the Wetlands Reserve Program should be
fully funded to achieve its acreage enrollment goals, and
should be actively promoted by the Department of Agri-
culture to achieve full subscription.
TITLE IV—TAX INCENTIVES FOR
WETLANDS CONSERVATION
SEC. 401. WETLANDS STEWARDSHIP TRUSTS.
(a) DESIGNATION.—The Secretary of the Interior
shall designate a nonprofit organization to be a Wetlands
Stewardship Trust for purposes of this section if the orga-
nization—
(1) includes among its primary purposes the ac-
quisition of private interests in wetlands, former
wetlands, and associated real property for the pur-
pose of restoring or preserving such property, and
(2) meets such other requirements as may be
established in regulations issued under subsection
(c).
(b) APPLICATION.—A nonprofit organization seeking
to be designated a Wetlands Stewardship Trust for pur-
poses of this section may submit to the Secretary of the
Interior an application for that designation, in accordance
with procedures established in regulations issued under
subsection (c).
(c) REGULATIONS.—Not later than 180 days after
the date of the enactment of this Act, the Secretary of
the Interior, acting through the Director of the United
States Fish and Wildlife Service, in consultation with the
Secretary of the Army, acting through the Corps of Engi-
neers, and the Administrator of the Environmental Pro-
tection Agency shall issue regulations establishing require-
ments for being designated a Wetlands Stewardship Trust
under this section.
SEC. 402. TAX TREATMENT OF DONATIONS OF WETLANDS.
(a) TAX TREATMENT.—Subsection (e) of section 170
of the Internal Revenue Code of 1986 (relating to chari-
table, etc., contributions and gifts) is amended by adding
at the end thereof the following new paragraph:
‘‘(6) SPECIAL RULES FOR CONTRIBUTIONS OF
WETLANDS.—
‘‘(A) IN GENERAL.—In the case of a chari-
table contribution by a taxpayer of wetlands (or
any interest therein) to a Wetlands Stewardship
Trust or to a governmental unit referred to in
subsection (c)(1) for the purpose of preserving
the property in its natural state—
‘‘(i) 50 
PERCENT
LIMITATION
TO
APPLY TO INDIVIDUALS.—Such a contribu-
tion by an individual shall be treated for
purposes of this section as described in
subsection (b)(1)(A).
‘‘(ii) 20-YEAR CARRYFORWARD.—Sub-
section (d)(1) shall be applied by substitut-
ing ‘20 years’ for ‘5 years’ each place it
appears and with appropriate adjustments
in the application of subparagraphs (A)(ii)
and (B)(ii) thereof.
‘‘(iii) EXTENSION OF PERIOD FOR EX-
CHANGES.—If such contribution is made
as part of an exchange to which section
1031 applies, paragraph (3) of section
1031(a) shall be treated as met if the
property to be received in the exchange is
received by the taxpayer not later than the
date which is 3 years after the date on
which the taxpayer transfers the property
relinquished in the exchange.
‘‘(B) PROPERTY MUST BE PROTECTED IN
PERPETUITY.—A contribution shall not be
treated as for the purpose referred to in sub-
paragraph (A) unless such purpose is protected
in perpetuity.
‘‘(C) CERTAIN
PROPERTY
INELIGIBLE.—
Subparagraph (A) shall not apply to any con-
tribution of property if—