WETLANDS MITIGATION.

SEC. 2609. WETLANDS MITIGATION. Section 1222(k) of the Food Security Act of 1985 (16 U.S.C. 3822(k)) is amended to read as follows: “(k) Mitigation Banking. “(1) Mitigation banking program. “(A) In general. Using authorities available to the Secretary, the Secretary shall operate a program or work with third parties to establish mitigation banks to assist persons in complying with the provisions of this section while mitigating any loss of wetland values and functions. “(B) Funding. Of the funds of the Commodity Credit Corporation, the Secretary shall use $10,000,000, to remain available until expended, to carry out this paragraph. “(2) Applicability. Subsection (f)(2)(C) shall not apply to this subsection. “(3) Policy and criteria. The Secretary shall develop the appropriate policy and criteria that will allow willing persons to access existing mitigation banks, under this section or any other authority, that will serve the purposes of this section without requiring the Secretary to hold an easement, in whole or in part, in a mitigation bank.” .