Cooperative Planning Assistance Act of 1994

Summary

Cooperative Planning Assistance Act of 1994 - Amends the Endangered Species Act of 1973 to authorize the Secretary of the Interior to enter into a cooperative agreement with a State, political subdivision, or group of States or State political subdivisions to provide assistance for habitat acquisition required to carry out an approved conservation plan, including assisting the entity in ensuring that adequate funding for the plan will be provided. Authorizes the Secretary to pay to an entity that is a party to such cooperative agreement the full amount of interest on a loan, bond, or other debt instrument of the entity that is approved by the Secretary before entering into the agreement and that is used solely for habitat acquisition costs identified in an approved conservation plan. Requires the entity, before entering into such cooperative agreement, to demonstrate its ability to repay the principal amount of the debt incurred in a timely manner and from a source, other than its general tax revenue, that is dedicated to repaying the principal. Sets forth factors to be considered by the Secretary before entering into such cooperative agreements. Provides that: (1) the sole obligation to be paid by the Secretary pursuant to the cooperative agreement shall be the interest on the debt; and (2) the entity that is a party to such agreement shall pay the principal. Terminates the obligation of the Secretary to pay interest and requires the defaulting entity to repay the Secretary all interest payments made pursuant to the terms of the cooperative agreement if the entity that is a party to the agreement defaults on the payment of the principal amount of the debt and the default continues for two years or more. Provides that on full payment of the debt and at the request of the Secretary the habitat purchased by the entity with funds obtained through the debt instrument shall be conveyed to the United States. Provides that if the Secretary exercises such authority, the use of the property shall be dedicated to the protection of species and the preservation of any wilderness areas of the property.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 7 October 1994

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 7 October 1994

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• Introduced in Senate

  summary · EN · 7 October 1994

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