Endangered Species Land Management Reform Act

[AI summary unavailable — showing source text] Endangered Species Land Management Reform Act - Amends the Endangered Species Act of 1973 to prohibit a Federal agency from taking an action affecting privately owned property that results in the diminishment of the value of any portion of property by an amount equal to or greater than half of the value of that portion unless compensation is offered. Provides for any agency that takes such an action to: (1) compensate the property owner for the diminution in value of any portion of that property resulting from the action; or (2) at the owner's option, buy that portion of the property by paying fair market value of the portion, based on the property's value before the diminution and without regard to the presence on the property of an endangered or threatened species, or the use of the property by such a species. Requires a property owner seeking compensation to make a written request for compensation to the agency whose action would limit otherwise lawful use of the property. Permits such an owner to elect arbitration through alternative dispute resolution or seek compensation due in a civil action if the parties have not reached an agreement on compensation within 180 days after t…