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(C) to do any combination of subpara-
graphs (A) and (B);
(2) describe the real property referred to in para-
graph (1)(A) and (B) (as applicable);
(3) specify species recovery goals for the agree-
ment, and measures for attaining such goals;
(4) require the person to make measurable
progress each year in achieving those goals, including
a schedule for implementation of the agreement;
(5) specify actions to be taken by the Secretary
or the person (or both) to monitor the effectiveness of
the agreement in attaining those recovery goals;
(6) require the person to notify the Secretary
if—
(A) any right or obligation of the person
under the agreement is assigned to any other
person; or
(B) any term of the agreement is breached
by the person or any other person to whom is as-
signed a right or obligation of the person under
the agreement;
(7) specify the date on which the agreement takes
effect and the period of time during which the agree-
ment shall remain in effect;
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(8) provide that the agreement shall not be in ef-
fect on and after any date on which the Secretary
publishes a certification by the Secretary that the per-
son has not complied with the agreement; and
(9) allocate financial assistance provided under
this subtitle for implementation of the agreement, on
an annual or other basis during the period the agree-
ment is in effect based on the schedule for implemen-
tation required under paragraph (4).
(c) REVIEW AND APPROVAL OF PROPOSED AGREE-
MENTS.—Upon submission by any person of a proposed
species recovery agreement under this section, the
Secretary—
(1) shall review the proposed agreement and de-
termine whether it complies with the requirements of
this section and will contribute to the recovery of en-
dangered or threatened species that are the subject of
the proposed agreement;
(2) propose to the person any additional provi-
sions necessary for the agreement to comply with this
section; and
(3) if the Secretary determines that the agree-
ment complies with the requirements of this section,
shall approve and enter with the person into the
agreement.
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(d) 
MONITORING
IMPLEMENTATION
OF
AGREE-
MENTS.—The Secretary shall—
(1) periodically monitor the implementation of
each species recovery agreement entered into by the
Secretary under this section; and
(2) based on the information obtained from that
monitoring, annually or otherwise disburse financial
assistance under this subtitle to implement the agree-
ment as the Secretary determines is appropriate
under the terms of the agreement.
SEC. 715. DEFINITIONS.
In this subtitle:
(1) ENDANGERED OR THREATENED SPECIES.—
The term ‘‘endangered or threatened species’’ means
any species that is listed as an endangered species or
threatened species under section 4 of the Endangered
Species Act of 1973 (16 U.S.C. 1533).
(2) FAMILY
FARM.—The term ‘‘family farm’’
means a farm that—
(A) produces agricultural commodities for
sale in such quantities so as to be recognized in
the community as a farm and not as a rural res-
idence;
(B) produces enough income, including off-
farm employment, to pay family and farm oper-
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ating expenses, pay debts, and maintain the
property;
(C) is managed by the operator;
(D) has a substantial amount of labor pro-
vided by the operator and the operator’s family;
and
(E) uses seasonal labor only during peak
periods, and uses no more than a reasonable
amount of full-time hired labor.
(3) SECRETARY.—The term ‘‘Secretary’’ means
the Secretary of the Interior or the Secretary of Com-
merce, in accordance with section 3 of the Endan-
gered Species Act of 1973 (16 U.S.C. 1532).
(4) SMALL LANDOWNER.—The term ‘‘small land-
owner’’ means an individual who owns 50 acres or
fewer of land.
(5) SPECIES RECOVERY AGREEMENT.—The term
‘‘species recovery agreement’’ means an Endangered
and Threatened Species Recovery Agreement entered
into by the Secretary under section 714.