A bill to amend the Food Security Act of 1985 to increase the number of acres placed in the conservation reserve program, and for other purposes.

Amends the Food Security Act of 1985 to expand progressively the conservation reserve program to 65,000,000 acres by the end of the 1990 crop year. Directs the Secretary of Agriculture (Secretary) to report to specified congressional committees by January 1, 1988, on the inclusion in the program of lands other than highly erodible lands.

Authorizes cash and in-kind conservation reserve incentives. Directs the Secretary to expand the quantity of land eligible for conservation reserve programs for acreage devoted to trees. Provides for commercial use of conservation reserve acreage under certain conditions.

Revises the ownership/operation requirements related to contracts under the conservation reserve program. Requires the Secretary, in determining the acceptability of contract offers, to consider the land's fair market and rental values.

Extends through FY 1990 the authority of the Secretary to use the Commodity Credit Corporation to carry out the conservation reserve program.

Directs the Secretary, not later than July 1, 1988, to formulate and implement a groundwater pilot program to assist owners and operators of eligible land in conserving and improving the soil and water resources of their farms or ranches. Makes eligible for such program land: (1) that is irrigated for certain crops in an area identified as subject to the overdraft of groundwater; or (2) that is associated with an aquifer adversely affected by such irrigation.

Amends the Agricultural Programs Adjustment Act of 1984 to require the Secretary to implement a program for the reamortization of certain loans based on future revenue from softwood timber crops. (Under current law, the program is discretionary.) Increases from 50,000 acres to 200,000 acres the amount of land that may be placed in such a program.