As used in this chapter:
(1) "Bank" means the South Carolina Conservation Bank.
(2) "Board" means the governing board of the bank.
(3) "Trust fund" means the South Carolina Conservation Bank Trust Fund established pursuant to Section 48-59-60.
(4) "Eligible trust fund recipient" means:
(a) the following state agencies, which own and manage land for the land's natural resource, historical, and outdoor recreation values:
(i) South Carolina Department of Natural Resources,
(ii) South Carolina Forestry Commission, and
(iii) South Carolina Department of Parks, Recreation and Tourism.
(b) a municipality of this State and any agency, commission, or instrumentality of such a municipality;
(c) a county of this State and any agency, commission, or instrumentality of such county; or
(d) a not-for-profit charitable corporation or trust authorized to do business in this State whose principal activity is the acquisition and management of interests in land for conservation or historic preservation purposes and which has tax-exempt status as a public charity under the Internal Revenue Code of 1986.
(5) "Farmland" means land used for the production of food, fiber, or other agricultural products.
(6) "Land" means real property, including highlands and wetlands of any description.
(7) "Conservation easement" means an interest in real property as defined in Chapter 8 of Title 27, the South Carolina Conservation Easement Act of 1991.
(8) "Interests in lands" means fee simple titles to lands or conservation easements.
HISTORY: 2002 Act No. 200, Section 1; 2018 Act No. 224 (H.4727), Section 1, eff July 1, 2018.
Effect of Amendment
2018 Act No. 224, Section 1, in (4), inserted (c), relating to counties, redesignated (c) as (d), and made a nonsubstantive change.
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