; table of contents. Sec. 2. Findings. Sec. 3. Definitions. Sec. 4. Rural vitalization program. Sec. 5. Effect of waiver of grazing permit or lease. 2. Findings Congress finds the following: (1) The use of Federal lands by grazing permittees and lessees for commercial livestock grazing is increasingly difficult due to growing conflicts with other legitimate multiple uses of the lands, such as environmental protection and burgeoning recreational use, and with congressionally mandated goals of wildlife and habitat protection and improved water quality and quantity. (2) A combination of sustained drought, foreign competition, changing domestic markets, industry restructuring, and individual ranch finances has resulted in Federal grazing permits and leases becoming stranded investments for many permittees and lessees. (3) Attempts to resolve grazing conflicts with other multiple uses often require extensive range developments, intensive herd management, and continuous monitoring that greatly increases costs to both permittees and lessees and taxpayers, far out of proportion to the benefit received. (4) Certain grazing allotments on Federal lands have, or are likely to become, unsuitable for commercial livestock production as a result of the combined effect of the factors referred to in paragraphs (1) through (3) and other factors. (5) The cost of the Federal grazing program greatly exceeds revenues to the Federal treasury from grazing receipts. (6) Many permittees and lessees have indicated their willingness to end their commercial livestock grazing on Federal lands in exchange for compensation to reasonably compensate them for the effort and investment that they have made in a grazing allotment. (7) Compensating permittees and lessees who relinquish their grazing permit or lease would help recapitalize an ailing sector of rural America by providing economic options to permittees and lessees that do not presently exist by allowing them to restructure their ranch operations, start new businesses, or retire with