SECTION 1. Section 485930(4) of the 1976 Code is amended to read: “(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; or (c) a county of this State and any agency, commission, or instrumentality of such county; or (d) a notforprofit 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 taxexempt status as a public charity under the Internal Revenue Code of 1986.” SECTION 2. Section 485940 of the 1976 Code is amended to read: “Section 485940. (A) There is established the South Carolina Conservation Bank. The bank is governed by a fourteenmember board selected as follows: (1) the Chairman of the Board for the Department of Natural Resources, the Chairman of the South Carolina Forestry Commission, and the Director of the South Carolina Department of Parks, Recreation and Tourism, all of whom shall serve ex officio and without voting privileges; (2) three members appointed by the Governor from the State at large; (3) four members appointed by the Speaker of the House of Representatives, one each from the Third, Fourth, and Sixth Congressional Districts and one member from the State at large; and (4) four members appointed by the President Pro Tempore of the Senate, one each from the First, Second, Fifth, and Seventh Congressional Districts. (B)(1) In making their respective appointments to the board, the Governor, Speaker of the House of Representatives, and President Pro Tempore of the Senate shall take all reasonable steps to ensure
SECTION 5. Section 4859110 of the 1976 Code is amended to read: “Section 4859110. (A) Trust funds may be used only by eligible trust fund recipients for the acquisition of interests in land, including closing costs. Trust funds may not be used to pay general operating expenses of eligible trust fund recipients, nor may trust funds be used for the management or maintenance of acquired interests in land. Trust funds only may be dispersed at the closing of transactions in which an interest in land is acquired. (B) The board, in its discretion, may award additional grant funds to the South Carolina Department of Natural Resources, the South Carolina Department of Parks, Recreation and Tourism or the South Carolina Forestry Commission for the acquisition of fee simple title to land to which the public will have full access. The additional funds must be used only for the purpose of improving pedestrian public access. The state agency receiving the funds shall include with its grant application a request for the additional funds and a detailed description of how the additional funds, if awarded, would be used. If additional funds are awarded by the board, the state agency receiving the funds shall submit a report to the board every six months after the award has been made describing in detail how the funds have been used and continue to submit a report until the funds are fully utilized. If the additional funds have not been utilized two years after receipt, the remaining balance must be refunded to the trust fund.” SECTION 6. A. Sections 122495, 122497, 278120, and 485975 of the 1976 Code are repealed. B. SECTIONS 3, 4, 5, and 7 of Act 200 of 2002 are repealed. SECTION 7. (A) Effective July 1, 2018, the South Carolina Conservation Bank Board must be made up of members elected pursuant to the provisions of Section 485940, as amended by this act. The members serving on the board immediately prior to July 1, 2018, may only serve on the commission until their successor has been appointed or the member is reappointed pursuant to Section 485940, as amended by this act. The initial appointments to the board must be staggered so that one of the members appointed by the Governor, the member from the Third Congressional District and the member appointed from the State at large appointed by the