3 1 transferred without consideration to the administrative juris 2 diction of the Secretary for administration as part of the 3 national river. 4 (b) With the exception of property that the Secretary 5 determines is necessary for purposes of admimnistration, pres6 ervation, or public use, any owner or owners (hereafter in 7 this section referred to as "owner") of (1) improved prop8 erty and used solely for noncommercial residential pur9 poses on the date of its acquisition by the Secretary or of (2) 10 lands used solely for agricultural purposes, including but not 11 limited to grazing, on such acquisition date may retain the 12 right of use and occupancy of such property for such respec13 tive purposes for a term, as the owner may elect, ending 14 either (a) upon the death of the owner or his spouse, which15 ever occurs later, or (b) not more than thirty-five years 16 from the date of acquisition. The Secretary shall pay to the 17 owner the fair market value of the property on the date of 18 such acquisition, less the fair market value on such date of 19 the term retained by the owner. Such right (1) shall be 20 subject to such terms and conditions as the Secretary deems 21 appropriate to assure that the property is used in accordance 22 with the purposes of this Act, (2) may be transferred or 23 assigned, and (3) may be terminated with respect to the 24 entire property by the Secretary upon his determination 25 that the property or any portion thereof has ceased to be 4 1 used for noncommercial residential or agricultural purposes, 2 and upon tender to the holder of the right an amount equal 3 to the fair market value, as of the date of the tender, of that 4 portion of the right which remains unexpired on the date of 5 termination. 6 11 (c) As used in this section the term “improved prop7 erty" means a detached year-round one-family dwelling 8 which serves as the owner's permanent place of abode at 9 the time of acquisition, and construction of which was begun 10 before January 1, 1971, together with so much of the land on which the dwelling is situated, the said land being in the 12 same ownership as the dwelling, as the Secretary shall desig13 nate to be reasonably necessary for the enjoyment of the 14 dwelling for the sole purpose of noncommercial residential 15 use: Provided, That the Secretary may exclude from any 16 improved property any waters or land as he deems necessary 17 for public access thereto. 18 SEC. 3. The Secretary shall permit hunting and fish 19 ing on lands and waters under his jurisdiction within the 20 boundaries of the Buffalo National River in accordance with 21 applicable Federal and State laws, except that he may des22 ignate zones where and establish periods when, no hunting or fishing shall be permitted for reasons of public safety, inistration, fish or wildlife management, or public use 23 24 vment. Except in emergencies, any rules and reg 3 1 transferred without consideration to the administrative juris 2 diction of the Secretary for administration as part of the 3 national river. 4 (b) With the exception of property that the Secretary 5 determines is necessary for purposes of admimnistration, pres6 ervation, or public use, any owner or owners (hereafter in 7 this section referred to as "owner") of (1) improved prop8 erty and used solely for noncommercial residential pur9 poses on the date of its acquisition by the Secretary or of (2) 10 lands used solely for agricultural purposes, including but not 11 limited to grazing, on such acquisition date may retain the 12 right of use and occupancy of such property for such respec13 tive purposes for a term, as the owner may elect, ending 14 either (a) upon the death of the owner or his spouse, which15 ever occurs later, or (b) not more than thirty-five years 16 from the date of acquisition. The Secretary shall pay to the 17 owner the fair market value of the property on the date of 18 such acquisition, less the fair market value on such date of 19 the term retained by the owner. Such right (1) shall be 20 subject to such terms and conditions as the Secretary deems 21 appropriate to assure that the property is used in accordance 22 with the purposes of this Act, (2) may be transferred or 23 assigned, and (3) may be terminated with respect to the 24 entire property by the Secretary upon his determination 25 that the property or any portion thereof has ceased to be 4 1 used for noncommercial residential or agricultural purposes, 2 and upon tender to the holder of the right an amount equal 3 to the fair market value, as of the date of the tender, of that 4 portion of the right which remains unexpired on the date of 5 termination. 6 (c) As used in this section the term “improved prop7 erty" means a detached year-round one-family dwelling 8 which serves as the owner's permanent place of abode at 9 the time of acquisition, and construction of which was begun 10 before January 1, 1971, together with so much of the land on which the dwelling is situated, the said land being in the 11 12 same ownership as the dwelling, as the Secretary shall desig13 nate to be reasonably necessary for the enjoyment of the 14 dwelling for the sole purpose of noncommercial residential 15 use: Provided, That the Secretary may exclude from any 16 improved property any waters or land as he deems necessary 17 for public access thereto. 18 SEC. 3. The Secretary shall permit hunting and fish 19 ing on lands and waters under his jurisdiction within the 20 boundaries of the Buffalo National River in accordance with 21 applicable Federal and State laws, except that he may des22 ignate zones where and establish periods when, no hunting 23 or fishing shall be permitted for reasons of public safety, 24 administration, fish or wildlife management, or public use 25 and enjoyment. Except in emergencies, any rules and reg 5. 1 ulations of the Secretary pursuant to this section shall be 2 put into effect only after consultation with the Arkansas 3 Fish and Game Commission. 4 SEC. 4. In order to alleviate the immediate real estate 5 tax losses sustained by counties as a result of any acquisi6 tion by the United States of property within the Buffalo 7 National River, the Secretary shall, as soon as practicable 8 after the end of the first fiscal year in which such property 9 has been acquired and as soon as practicable after the end 10 of each of the four succeeding fiscal years, make payments 11 to the county in which such property lies in an amount equal 12 to the taxes last assessed and levied on the property prior 13 to its acquisition by the United States. Funds for such 14 payments are hereby authorized to be appropriated from 15 the general fund of the Treasury. 16 SEC. 5. The Federal Power Commission shall not license 17 the construction of any dam,, water conduit, reservoir, power18 house, transmission line, or other project works under the 19 Federal Power Act (41 Stat. 1063), as amended (16 20 U.S.C. 791a et seq.), on or directly affecting the Buffalo 21 National River and no department or agency of the United 22 States shall assist by loan, grant, license, or otherwise in 23 the construction of any water resources project that would 24 have a direct and adverse effect on the values for which |