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 security. (8) Paying reasonable compensation for the relinquishment of a grazing permit or lease will help alleviate the need for permittees and lessees to sell or subdivide their private lands. 3. Definitions In this Act: (1) Commercial livestock grazing The term commercial livestock grazing means the grazing of domestic livestock on Federal lands as authorized by a grazing permit or lease. The term does not include beasts of burden used for recreational purposes. (2) Grazing allotment The term grazing allotment means the designated portion of Federal land upon which domestic livestock are permitted to graze by a grazing permit or lease. (3) Grazing permit