A bill to increase the maximum amount of aggregate payments which may be made in calendar years after 1977 to carry out conservation agreements under the Water Bank Act, and for other purposes.

Amends the Water Bank Act to increase from $10,000,000 to $50,000,000 the payment limitation on conservation agreements for calendar years after 1977. Directs the Secretary of Agriculture to re-examine the payment rate for such an agreement at the beginning of the fifth year of any ten-year initial or renewal period, in any calendar year after 1977.