Compensation for easements and rental contracts acquired by the Secretary.

CFR · 2024-01-01 · US · Title 7

(a) The Chief will not pay more than the fair market value of the land, less the grazing value of the land encumbered by the easement. (b) To determine this amount, the Chief will pay as compensation the lowest of: (1) The fair market value of the land encumbered by the easement as determined by the Chief using— (i) The Uniform Standards of Professional Appraisal Practice, or (ii) An area-wide market analysis or market survey; (2) The amount corresponding to a geographical cap, as determined by the State Conservationist, with advice from the State Technical Committee; or (3) An offer made by the landowner. (c) For 10-, 15-, and 20-year rental contracts, the participant will receive not more than 75 percent of the grazing value in an annual payment for the length of the contract, as determined by FSA. As provided by the regulations at part 1400 of this title, payments made under one or more rental contracts to a person or legal entity, directly or indirectly, may not exceed, in the aggregate, $50,000 per year. (d) In order to provide for better uniformity among States, the NRCS Chief and FSA Administrator may review and adjust, as appropriate, State or other geographically based payment rates for rental contracts. (e) Easement or rental contract payments received by a participant will be in addition to, and not affect, the total amount of payments that the participant is otherwise eligible to receive under other USDA programs. (f) Easement payments will be made in a single pay

official document · source cfr-2024 · id 7:§ 1415.10