This law states that a conservancy can choose and acquire real estate for the state to protect the natural environment and provide public access or recreational spaces. It also includes preserving wildlife habitats and managing such lands. The conservancy is the main agency tasked with acquiring these properties under a specific title.

This section allows the conservancy to acquire land through various methods such as exchanges, easements, and leases, instead of just buying land outright. They can also form advisory bodies to guide these land acquisitions. The process for setting their land acquisition policy doesn’t have to follow certain government procedural rules.

This law allows the conservancy to accept and keep real estate or any rights in property that it receives as a gift, through exchange, as a donation, or through dedication.

This law allows the conservancy, which manages public lands, to partner with other public agencies to handle real estate tasks. It can give these agencies the power to make deals for buying or selling property or property interests.

This law section explains that if the state is buying real estate worth more than $550,000 for each piece, it must follow strict procedures known as the Property Acquisition Law. For property purchases under this amount, those rules don't apply, but the conservancy has the option to ask for an extra review by the State Public Works Board if it chooses.

This law allows the conservancy to request the State Public Works Board to use eminent domain to acquire property if they've tried all reasonable ways to buy it and still can't. This can be done if there's a block to a voluntary acquisition or if it's needed for related projects.

This law allows the conservancy to agree to buy land or a partial interest in land, despite any other laws that might say otherwise.

This law allows the conservancy to give grants to local, state, and federal agencies, as well as certain nonprofit organizations and tribes, for objectives related to the conservancy's mission. When nonprofits use these grants to buy property, the purchase price must be fair market value, and the conservancy must approve both the purchase and any future use of the property as loan collateral. If the nonprofit disbands, ownership of the property bought with the state's help passes to the state unless another approved organization takes over. Grants are also available to public agencies for up to two-thirds of costs to relocate utilities for soil erosion projects, provided certain conditions are met, such as the relocation being necessary and not funded by other public sources.

This law allows a conservancy to lease, rent, sell, or exchange land or property interests to various entities such as local and state agencies, federal entities, nonprofits, and private parties to support state planning priorities, unless specified otherwise. However, the conservancy cannot sell specific properties acquired through Section 66907.5. By January 1, 2018, a report was required to be submitted to the legislature detailing the conservancy's progress towards these priorities, but this requirement became inactive on January 1, 2022.

This law explains that the conservancy is responsible for managing the lands and facilities it owns or controls. To do this, it can establish rules for how these lands and facilities are used, and it can work with other groups or individuals to manage them. The conservancy is also allowed to make any agreements that are legally permitted by state or federal law to help with this management.

The conservancy is allowed to improve and develop land to protect the environment or achieve related goals. However, it can't develop land or make agreements for development unless it aligns with a basinwide management plan.

This law allows the conservancy to merge or divide land parcels, change boundary lines, or take similar actions when acquiring or managing land. This flexibility helps in efficiently managing the land.

Each year, or as needed, the conservancy's executive officer must report to the Director of General Services about important privately owned properties within the conservancy's area. These properties should have special significance and might be swapped with state-owned lands to help protect natural resources in the Tahoe Basin. However, a property's owner has to agree to be included in such a report.

Properties are considered of 'special significance' if they are valuable for public access, recreation, natural habitats like wetlands, open space, water protection, or other related purposes.