A bill to amend the Water Bank Act for the purpose of authorizing the Secretary of Agriculture to adjust payment rates with respect to initial conservation agreements and to designate certain areas as wetlands, and for other purposes.

(Measure indefinitely postponed in Senate, H. R. 2043 passed in lieu)

Amends the Water Bank Act to require the Secretary of Agriculture to reexamine payment rates under wetland conservation agreements at the beginning of the fifth year of any ten-year initial or renewal period and to make needed annual adjustments in such rates.

Expands the scope of the types of wetlands covered by such Act.

Provides that annual adjustments in water bank contract payments are available only as provided in advance by appropriation Acts.

Increases, beginning in fiscal year 1981, the amount of authorized program funding and limits the amount which may be expended in any one State.