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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.
10/16/1974--Introduced. Requires payments, under the Land and Water Conservation Fund Act, by States to local jurisdictions in lieu of property taxes that would have been paid to that jurisdiction had land being used for conservation purposes been private. Increases appropriations for the Land and Water Conservation Fund to $1,000,000,000 for each fiscal year.