§ 3838p. Duties of Secretary
(a)
Evaluation and ranking of applications
(b)
Payments
(1)
In general
In return for the execution of a rental contract or the granting of an easement by an owner or operator under the program, the Secretary shall—
(2)
Rental contract payments
(A)
Percentage of grazing value of land
In return for the execution of a rental contract by an owner or operator under the program, the Secretary shall make annual payments during the term of the contract in an amount, subject to subparagraph (B), that is not more than 75 percent of the grazing value of the land covered by the contract.
(3)
Easement payments
(A)
In general
Subject to subparagraph (B), in return for the granting of an easement by an owner under the program, the Secretary shall make easement payments in an amount not to exceed the fair market value of the land less the grazing value of the land encumbered by the easement.
(B)
Method for determination of compensation
In making a determination under subparagraph (A), the Secretary shall pay as compensation for a [1] easement acquired under the program the lowest of—
(i)
the fair market value of the land encumbered by the easement, as determined by the Secretary, using—
(4)
Restoration agreement payments
(5)
Payments to others
If an owner or operator who is entitled to a payment under the program dies, becomes incompetent, is otherwise unable to receive the payment, or is succeeded by another person who renders or completes the required performance, the Secretary shall make the payment, in accordance with regulations promulgated by the Secretary and without regard to any other provision of law, in such manner as the Secretary determines is fair and reasonable in light of all the circumstances.
[1] So in original. Probably should be “an”.