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treated as allocated to the taxpayer for use in
such taxable year under subsection (f).
‘‘(c) 
ELIGIBLE
TAXPAYER; 
QUALIFIED
AGREE-
MENTS.—For purposes of this section—
‘‘(1) IN GENERAL.—The term ‘eligible taxpayer’
means—
‘‘(A) a taxpayer who—
‘‘(i) owns real property which contains
the habitat of a qualified species, and
‘‘(ii) enters into a qualified perpetual
habitat protection agreement, a qualified
30-year habitat protection agreement, or a
qualified habitat protection agreement with
respect to such real property, and
‘‘(B) any other taxpayer who—
‘‘(i) is a party to a qualified perpetual
habitat protection agreement, a qualified
30-year habitat protection agreement, or a
qualified habitat protection agreement, and
‘‘(ii) as part of any such agreement,
agrees to assume responsibility for costs
paid or incurred as a result of imple-
menting such agreement.
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‘‘(2) QUALIFIED PERPETUAL HABITAT PROTEC-
TION
AGREEMENT.—The term ‘qualified perpetual
habitat protection agreement’ means an agreement—
‘‘(A) under which a taxpayer described in
paragraph (1)(A) grants to the appropriate Sec-
retary, the Secretary of Agriculture, the Sec-
retary of Defense, or a State an easement in per-
petuity for the protection of the habitat of a
qualified species, and
‘‘(B) which meets the requirements of para-
graph (5).
‘‘(3) QUALIFIED 30-YEAR HABITAT PROTECTION
AGREEMENT.—The term ‘qualified 30-year habitat
protection agreement’ means an agreement not de-
scribed in paragraph (2)—
‘‘(A) under which a taxpayer described in
paragraph (1)(A) grants to the appropriate Sec-
retary, the Secretary of Agriculture, the Sec-
retary of Defense, or a State an easement for a
period of 30 years or greater for the protection
of the habitat of a qualified species, and
‘‘(B) which meets the requirements of para-
graph (5).
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‘‘(4) QUALIFIED HABITAT PROTECTION AGREE-
MENT.—The term ‘qualified habitat protection agree-
ment’ means an agreement—
‘‘(A) under which a taxpayer described in
paragraph (1)(A) enters into an agreement not
described in paragraph (2) or (3) with the ap-
propriate Secretary, the Secretary of Agriculture,
the Secretary of Defense, or a State to protect the
habitat of a qualified species for a specified pe-
riod of time, and
‘‘(B) which meets the requirements of para-
graph (5).
‘‘(5) REQUIREMENTS.—An agreement meets the
requirements of this paragraph if the agreement—
‘‘(A) is consistent with any recovery plan
which is applicable and which has been approved
for a qualified species under section 4 of the En-
dangered Species Act of 1973,
‘‘(B) includes a habitat management plan
agreed to by the appropriate Secretary and the
eligible taxpayer, and
‘‘(C) requires that technical assistance with
respect to the duties under the habitat manage-
ment plan be provided to the taxpayer by the ap-
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propriate Secretary or an entity approved by the
appropriate Secretary.
‘‘(d) HABITAT PROTECTION EASEMENT CREDIT.—
‘‘(1) IN GENERAL.—For purposes of subsection
(a)(1), the habitat protection easement credit for any
taxable year is an amount equal to—
‘‘(A) in the case of a taxpayer described in
subsection (c)(1)(A) who has entered into a
qualified perpetual habitat protection agreement
during such taxable year, 100 percent of the ex-
cess (if any) of—
‘‘(i) the fair market value of the real
property with respect to which the qualified
perpetual habitat protection agreement is
made, determined on the day before such
agreement is entered into, over
‘‘(ii) the fair market value of such
property, determined on the day after such
agreement is entered into,
‘‘(B) in the case of a taxpayer described in
subsection (c)(1)(A) who has entered into a
qualified 30-year habitat protection agreement
during such taxable year, 75 percent of such ex-
cess, and
‘‘(C) in the case of any other taxpayer, zero.