between an eligible entity and the Secretary relating to land that an eligible entity owns or is going to purchase prior to acquisition of an agricultural land easement;

hold an agricultural land easement on that land, but transfer ownership of the land to a farmer or rancher that is not an eligible entity prior to or on acquisition of the agricultural land easement; or

hold an agricultural land easement on that land, but transfer ownership of the land to a farmer or rancher that is not an eligible entity in a timely manner and, subject to subparagraph (B), not later than 3 years after the date of acquisition of the agricultural land easement; and

make an initial sale of the land subject to the agricultural land easement to a farmer or rancher at not more than agricultural value, plus any reasonable holding and transaction costs incurred by the eligible entity, as determined by the Secretary; and

under which the Secretary shall be reimbursed for the entirety of the Federal share of the cost of the agricultural land easement by the eligible entity if the eligible entity fails to transfer ownership under item (aa) or (bb), as applicable, of clause (ii)(I).

organized for, and at all times since the formation of the organization has been operated principally for, 1 or more of the conservation purposes specified in clause (i), (ii), (iii), or (iv) of section 170(h)(4)(A) of title 26;

an organization described in section 501(c)(3) of title 26 that is exempt from taxation under section 501(a) of title 26; or

paragraph (1) or (2) of section 509(a) of title 26; or

section 509(a)(3) of title 26 and is controlled by an organization described in section 509(a)(2) of title 26.

a pending offer for purchase of an agricultural land easement from an eligible entity; or

a buy-protect-sell transaction;

that has prime, unique, or other productive soil;

that contains historical or archaeological resources;

the enrollment of which would protect grazing uses and related conservation values by restoring and conserving land; or

the protection of which will further a State or local policy consistent with the purposes of the program; and

cropland;

rangeland;

grassland or land that contains forbs, or shrubland for which grazing is the predominant use;

located in an area that has been historically dominated by grassland, forbs, or shrubs and could provide habitat for animal or plant populations of significant ecological value;

pastureland; or

nonindustrial private forest land that contributes to the economic viability of an offered parcel or serves as a buffer to protect such land from development;

is likely to be successfully restored in a cost-effective manner; and

will maximize the wildlife benefits and wetland functions and values;

a closed basin lake and adjacent land that is functionally dependent upon it, if the State or other entity is willing to provide 50 percent share of the cost of an easement; or

a pothole and adjacent land that is functionally dependent on it;

are enrolled in the conservation reserve program;

have the highest wetland functions and values, as determined by the Secretary; and

are likely to return to production after they leave the conservation reserve program;

riparian areas that link wetlands that are protected by easements or some other device that achieves the same purpose as an easement; or

other wetlands of an owner that would not otherwise be eligible, if the Secretary determines that the inclusion of such wetlands in a wetland reserve easement would significantly add to the functional value of the easement; or

the rights, title, and interests in land conveyed to the Secretary; and

the rights, title, and interests in land that are reserved to the landowner.