A bill to encourage the establishment of wind erosion control and wildlife habitat areas which meet standards prescribed by the Secretary of Agriculture.

Amends the Internal Revenue Code to provide an income tax credit for the amounts paid or incurred by the taxpayer to convert land held in the United States and formerly used for agriculture or raising livestock into an area used exclusively for providing vegetative cover for wind erosion control or wildlife habitat. Provides that such wind erosion control and wildlife habitat areas must: (1) meet such requirements as are established by the Secretary of Agriculture; (2) be no less than 20 feet, nor more than 60 feet in width; and (3) comprise no more than 15 percent of the area of any farm.

Provides for the recapture of such credits to the extent that credit is taken for land which ceases to be a wind erosion control or wildlife habitat area, or is transferred by the taxpayer (except by reason of death, or in certain tax-free corporate acquisitions) within three years after the credit is taken. Provides for the carryover of allowable credit to the extent it exceeds the taxpayer's liability. Reduces the taxpayer's basis, and disallows any deduction of expenditures properly charged to capital account for which this credit is taken.