; and (2) the market value of the portion of the owner’s fur farm, exclusive of the land, involving mink farming. (c) Market value determination (1) Market value The market value referred to in subsection (b)(2) shall be calculated as the amount in cash, or on terms reasonably equivalent to cash, for which in all probability the relevant portion of the fur farm would have sold on the effective date of the valuation, after a reasonable exposure time on the competitive market, from a willing and reasonably knowledgeable seller to a willing and reasonably knowledgeable buyer, with neither acting under any compulsion to buy or sell, giving due consideration to all available economic uses of that portion of the fur farm at the time of the valuation. (2) Effective date of valuation In determining the market value referred to in subsection (b)(2), the effective date of the valuation shall be the day before the date of enactment of this Act. (d) Grant condition As a condition of receiving a payment under the Program, the recipient shall— (1) not use any payment funds for any materials, supplies, labor costs, or activities associated with operating a fur farm; and (2) provide to the Secretary a permanent easement on the property on which the fur farm is located that prohibits the operation of any fur farm on the easement area. (e) Funding Not later than 60 days after the date of enactment of this Act, out of any funds in the Treasury not otherwise appropriated, the Secretary of the Treasury shall transfer to the Secretary of Agriculture $350,000,000 to carry out this section, to remain available until expended. 5. Definitions In this Act: (1) Fur The term fur means any animal skin or part of an animal skin with hair, fleece, or fur fibers attached, either in its raw or processed state. Such term— (A) does not include animal skins that will be converted into leather or which in processing will have their hair, fleece, or fur fiber completely removed