or an easement for the maximum duration al-
lowed under applicable State laws not less than 
50 percent, and not more than 75 percent, of 
the compensation that would be paid for a per-
manent easement in accordance with subpara-
graph (A). 
‘‘(C) DETERMINATION
OF
FAIR
MARKET 
VALUE.—The Secretary shall determine the fair 
market value of eligible land for purposes of 
this paragraph using the Uniform Standards of 
Professional Appraisal Practice or another in-
dustry-approved method. 
‘‘(c) 
EASEMENT
RESTORATION
AND
MANAGE-
MENT.— 
‘‘(1) FOREST RESERVE EASEMENT PLAN.— 
‘‘(A) IN
GENERAL.—Land enrolled in a 
forest reserve easement shall be subject to a 
forest reserve easement plan, to be developed 
jointly by the landowner and the Secretary, that 
describes the activities to be carried out on the 
land, as are necessary to restore, maintain, and 
enhance habitat for species described in sub-
section (b)(2)(B), including— 
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‘‘(i) converting or restoring forest 
land to improve forest ecosystem functions 
and values; 
‘‘(ii) enhancing or maintaining exist-
ing forest ecosystem functions and values; 
‘‘(iii) restoring marginal farmland or 
degraded forest land to improve forest eco-
system functions and values; 
‘‘(iv) the conservation treatments and 
forest management practices that will 
achieve the conservation values and goals 
that are consistent with the program, as 
determined by the Secretary; or 
‘‘(v) any combination of the activities 
described in clauses (i) through (iv). 
‘‘(B) PRACTICES AND MEASURES.—A for-
est reserve easement plan developed under sub-
paragraph (A) shall require such practices and 
measures as are necessary to accomplish the ac-
tivities described in subparagraph (A), which 
may include— 
‘‘(i) land management and silviculture 
practices; 
‘‘(ii) vegetative treatments; 
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‘‘(iii) structural practices and meas-
ures; 
‘‘(iv) practices to increase carbon se-
questration; 
‘‘(v) practices to improve biological di-
versity; and 
‘‘(vi) other practices and measures, as 
determined by the Secretary. 
‘‘(2) FINANCIAL ASSISTANCE.— 
‘‘(A) IN
GENERAL.—The Secretary shall 
provide financial assistance to owners of eligible 
land to carry out the activities, practices, and 
measures described in the forest reserve ease-
ment plan developed for the eligible land under 
paragraph (1). 
‘‘(B) PAYMENTS.—With respect to finan-
cial assistance provided under subparagraph 
(A), the Secretary shall— 
‘‘(i) in the case of a permanent ease-
ment, pay an amount that is not more 
than 100 percent of the eligible costs de-
scribed in subparagraph (C), as deter-
mined by the Secretary; and 
‘‘(ii) in the case of a 30-year contract, 
a 30-year easement, or an easement for 
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the maximum duration allowed under ap-
plicable State laws, pay an amount that is 
not less than 50 percent, and not more 
than 75 percent, of the eligible costs de-
scribed in subparagraph (C), as deter-
mined by the Secretary. 
‘‘(C) ELIGIBLE COSTS.—Costs eligible for 
payments under this paragraph are the costs of 
activities, practices, and measures referred to in 
subparagraph (A) that are associated with the 
initial restoration or enhancement of the re-
quired habitat conditions for the applicable spe-
cies. 
‘‘(D) TIMING
OF
PAYMENTS.—Payments 
under this paragraph shall be made— 
‘‘(i) only on a determination by the 
Secretary that an activity, practice, or 
measure described in subparagraph (C) 
has been established in compliance with 
appropriate standards and specifications; 
and 
‘‘(ii) as soon as practicable after the 
obligation is incurred. 
‘‘(E) 
LIMITATIONS.—Cost-sharing 
pay-
ments made by the Secretary under this para-
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graph to a person or legal entity may not ex-
ceed $500,000 per easement or contract. 
‘‘(F) PARTICIPATION
IN
OTHER
PRO-
GRAMS.—The Secretary shall not prohibit own-
ers of eligible land enrolled in a forest reserve 
easement from being eligible for any other De-
partment of Agriculture or other Federal pro-
gram with respect to activities, practices, and 
measures not funded by payments under this 
paragraph. 
‘‘(d) TECHNICAL ASSISTANCE.— 
‘‘(1) IN GENERAL.—The Secretary shall provide 
to owners of eligible land technical assistance to as-
sist the owners in complying with the terms and con-
ditions of a forest reserve easement. 
‘‘(2) CONTRACTS OR AGREEMENTS.—The Sec-
retary may enter into 1 or more contracts with pri-
vate entities or agreements with a State, nongovern-
mental organization, or Indian Tribe to provide tech-
nical assistance with the implementation of this sec-
tion, including the enrollment, restoration, enhance-
ment, or maintenance of a forest reserve easement, 
if the Secretary determines that the contract or 
agreement will advance the purposes of the program. 
‘‘(e) PROTECTIONS AND MEASURES.— 
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‘‘(1) PROTECTIONS.—In the case of a land-
owner that enrolls eligible land in a forest reserve 
easement, and whose conservation activities result in 
a net conservation benefit for a species described in 
subsection (b)(2)(B), the Secretary shall make avail-
able to the landowner safe harbor or similar assur-
ances and protection under— 
‘‘(A) section 7(b)(4) of the Endangered 
Species Act of 1973 (16 U.S.C. 1536(b)(4)); or 
‘‘(B) section 10(a)(1) of that Act (16 
U.S.C. 1539(a)(1)). 
‘‘(2) MEASURES.—If protection under para-
graph (1) requires the taking of measures that are 
in addition to the measures covered by the applicable 
forest reserve easement plan agreed to under sub-
section (c)(1), the cost of the additional measures, 
and the cost of any permit, shall be considered part 
of the forest reserve easement plan for purposes of 
financial assistance under subsection (c)(2). 
‘‘(f) ADMINISTRATION.— 
‘‘(1) DELEGATION OF EASEMENT ADMINISTRA-
TION.— 
‘‘(A) FEDERAL AND STATE AGENCIES.— 
The Secretary may delegate any of the manage-
ment, monitoring, and enforcement responsibil-
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‘‘SEC. 1267D. ADMINISTRATION. 
‘‘(a) SET ASIDE FOR HISTORICALLY UNDERSERVED 
LANDOWNERS.— 
‘‘(1) ALLOCATION OF FUNDS.—Of the amounts 
made available for each of fiscal years 2024 through 
2028 to carry out the program, the Secretary shall 
use, to the maximum extent practicable, 10 percent 
to enroll in the program eligible land owned by— 
‘‘(A) a beginning forest landowner; 
‘‘(B) a socially disadvantaged forest land-
owner; 
‘‘(C) a veteran forest landowner; or 
‘‘(D) a limited resource forest landowner, 
as defined by the Secretary. 
‘‘(2) REPOOLING
OF
FUNDS.—In any fiscal 
year, amounts not obligated under paragraph (1) by 
a date determined by the Secretary shall be available 
for enrollment of any land eligible for enrollment 
under the program. 
‘‘(b) INELIGIBLE LAND.— 
‘‘(1) IN GENERAL.—The Secretary shall not use 
amounts made available to carry out the program 
for the purposes of acquiring an easement on— 
‘‘(A) land owned by a Federal agency, 
other than acreage owned by an Indian Tribe 
(as defined in section 1267C(b)(1)(B)(i)); 
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‘‘(B) land owned in fee title by a State, in-
cluding an agency or a subdivision of a State, 
or a unit of local government; 
‘‘(C) land subject to an easement or deed 
restriction that, as determined by the Secretary, 
provides similar protection as would be provided 
by enrollment in the program; or 
‘‘(D) land the enrollment in the program 
of which would undermine the purposes of the 
program due to on-site or off-site conditions, 
such as risk of hazardous substances, permitted 
or existing rights of way, infrastructure devel-
opment, or adjacent land uses. 
‘‘(2) LIMITATION.—The Secretary shall not im-
pose any limitation on the use of amounts made 
available to carry out the program for the purposes 
of acquiring an easement on any land not described 
in any of subparagraphs (A) through (D) of para-
graph (1). 
‘‘(c) SUBORDINATION, EXCHANGE, MODIFICATION, 
AND TERMINATION.— 
‘‘(1) SUBORDINATION.—The Secretary may 
subordinate any interest in eligible land, or portion 
of such an interest, administered by the Secretary 
(including for the purposes of utilities and energy 
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transmission services) directly or on behalf of the 
Commodity Credit Corporation under the program if 
the Secretary determines that the subordination— 
‘‘(A) increases conservation values or has a 
limited negative effect on conservation values; 
‘‘(B) minimally affects the acreage subject 
to the interest in eligible land; and 
‘‘(C) is in the public interest or furthers 
the practical administration of the program. 
‘‘(2) MODIFICATION AND EXCHANGE.— 
‘‘(A) AUTHORITY.—The Secretary may ap-
prove a modification or exchange of any interest 
in eligible land, or portion of such an interest, 
administered by the Secretary, 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 eligible 
land is avoided or minimized to the extent 
practicable; and 
‘‘(ii) the modification or exchange— 
‘‘(I) results in equal or increased 
conservation values; 
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‘‘(II) results in equal or greater 
economic value to the United States; 
‘‘(III) is consistent with the origi-
nal intent of the easement; 
‘‘(IV) is consistent with the pur-
poses of the program; and 
‘‘(V) is in the public interest or 
furthers the practical administration 
of the program. 
‘‘(B) LIMITATION.—In modifying or ex-
changing an interest in eligible land, or portion 
of such an interest, under this paragraph, the 
Secretary may not increase any payment to an 
eligible entity. 
‘‘(3) TERMINATION.—The Secretary may ap-
prove a termination of any interest in eligible land, 
or portion of such an interest, administered by the 
Secretary, directly or on behalf of the Commodity 
Credit Corporation under the program if the Sec-
retary determines that— 
‘‘(A) termination is in the interest of the 
Federal Government; 
‘‘(B) the United States will be fully com-
pensated for— 
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‘‘(i) the fair market value of the inter-
est in eligible land; 
‘‘(ii) any costs relating to the termi-
nation; and 
‘‘(iii) any damages determined appro-
priate by the Secretary; and 
‘‘(C) the termination will— 
‘‘(i) address a compelling public need 
for which there is no practicable alter-
native even with avoidance and minimiza-
tion; and 
‘‘(ii) further the practical administra-
tion of the program. 
‘‘(4) CONSENT.—The Secretary shall obtain 
consent from the landowner and eligible entity, if ap-
plicable, for any subordination, exchange, modifica-
tion, or termination of an interest in eligible land, or 
portion of such an interest, under this subsection. 
‘‘(5) NOTICE.—Not less than 90 days before 
taking any termination action described in para-
graph (3), the Secretary shall provide written notice 
of that action to the Committee on Agriculture of 
the House of Representatives and the Committee on 
Agriculture, Nutrition, and Forestry of the Senate. 
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‘‘(d) LAND ENROLLED IN OTHER PROGRAMS.—In 
accordance with section 4(b) of the Forest Conservation 
Easement Program Act of 2023, land enrolled in the 
healthy forests reserve program established under title V 
of the Healthy Forests Restoration Act of 2003 (16 
U.S.C. 6571 et seq.) on the day before the date of enact-
ment of this section shall be considered enrolled in the 
program. 
‘‘(e) PROGRAM ELIGIBILITY.—Sections 1001 through 
1001F shall not apply to owners of eligible land for the 
purposes of determining eligibility for the program. 
‘‘(f) STREAMLINED ENROLLMENT PROCESS.—The 
Secretary shall provide for a streamlined application and 
enrollment process for determining the eligibility of forest 
landowners for the program. 
‘‘(g) ENVIRONMENTAL
SERVICES
MARKET.—The 
Secretary may not prohibit through a contract, easement, 
or agreement under the program a participant in the pro-
gram from participating in, and receiving compensation 
from, an environmental services market if 1 of the pur-
poses of the environmental services market is the facilita-
tion of additional conservation benefits that are consistent 
with the purposes of the program.’’. 
(b) CONFORMING AMENDMENTS.— 
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SEC. 4. HEALTHY FORESTS RESERVE PROGRAM. 
(a) REPEAL.—Title V of the Healthy Forests Res-
toration Act of 2003 (16 U.S.C. 6571 et seq.) is repealed. 
(b) TRANSITIONAL PROVISIONS.— 
(1) EFFECT ON EXISTING CONTRACTS, AGREE-
MENTS, AND EASEMENTS.—The repeal made by sub-
section (a) shall not affect the validity or terms of 
any contract, agreement, or easement entered into 
by the Secretary of Agriculture under title V of the 
Healthy Forests Restoration Act of 2003 (16 U.S.C. 
6571 et seq.) before the date of enactment of this 
Act, or any payments required to be made in connec-
tion with the contract, agreement, or easement. 
(2) FUNDING.— 
(A) USE
OF
PRIOR
YEAR
FUNDS.—Not-
withstanding the repeal made by subsection (a), 
any funds made available from the Commodity 
Credit Corporation to carry out the healthy for-
ests reserve program established under title V 
of the Healthy Forests Restoration Act of 2003 
(16 U.S.C. 6571 et seq.) (as in effect on the 
day before the date of enactment of this Act) 
shall be made available to carry out contracts, 
agreements, or easements referred to in para-
graph (1) that were entered into prior to the 
date of enactment of this Act, subject to the 
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condition that no such contract, agreement, or 
easement may be modified so as to increase the 
amount of any payment received. 
(B) OTHER.—The Secretary of Agriculture 
may use funds made available to carry out the 
forest conservation easement program estab-
lished under subtitle I of the Food Security Act 
of 1985 to continue to carry out contracts, 
agreements, or easements referred to in para-
graph (1) using the provisions of law (including 
regulations) applicable to those contracts, 
agreements, and easements as in existence on 
the day before the date of enactment of this 
Act. 
(c) CONFORMING AMENDMENTS.— 
(1) The table of contents in section 1(b) of the 
Healthy Forests Restoration Act of 2003 (Public 
Law 108–148; 117 Stat. 1887) is amended by strik-
ing the items relating to title V. 
(2) Section 1271A(1) of the Food Security Act 
of 1985 (16 U.S.C. 3871a(1)) is amended by strik-
ing subparagraph (D) and inserting the following: 
‘‘(D) The forest conservation easement 
program established under subtitle I.’’. 
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SEC. 5. SENSE OF CONGRESS. 
It is the sense of Congress that the costs of carrying 
out this Act shall be offset. 
Æ 
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