Vote to pass a bill that overhauls the Endangered Species Act of 1973.
Repeals the Secretary of the Interior's authority to designate an area as a "critical habitat" for an endangered species (Sec. 5).
Requires the Secretary of the Interior to create "recovery plans" within two years of classifying species as endangered or threatened, except when it is determined that the plan will not help the survival of the species (Sec. 9).
Stipulates that the Secretary must provide an opportunity for public comment and must submit new or revised recovery plans to Governors and state and local agencies where the plan would be put into action prior to final approval (Sec. 9).
Allows the Secretary to make recovery agreements with private citizens whose land may be part of a species recovery plan (Sec. 9).
Instructs the Secretary to ensure that all new information about a species includes the best available scientific data before making agreements (Sec. 10).
Authorizes the Secretary to issue grants to support private property owners who voluntarily help to increase the number of endangered or threatened species on their private land (Sec. 13).
Authorizes the Secretary to provide compensation in an amount no less than fair market value to private landowners who have had regulation imposed upon their land (Sec. 13).
Calls upon the Secretary to submit an annual cost analysis of the previous years spending to Congress, including the amount of Federal and State funds used for each species (Sec. 15).