1. Short title This Act may be cited as the Forest Incentives Program Act of 2018 . 2. Forest incentives program (a) Definitions In this section: (1) Carbon incentives contract; contract The term carbon incentives contract or contract means a 15- to 30-year contract that specifies— (A) the eligible practices that will be undertaken; (B) the acreage of eligible land on which the practices will be undertaken; (C) the agreed rate of compensation per acre; (D) a schedule to verify that the terms of the contract have been fulfilled; and (E) such other terms as are determined necessary by the Secretary. (2) Conservation easement agreement; agreement The term conservation easement agreement or agreement means a permanent conservation easement that— (A) covers eligible land that will not be converted for development; (B) is enrolled under a carbon incentives contract; and (C) is consistent with the guidelines for— (i) the Forest Legacy Program established under section 7 of the Cooperative Forestry Assistance Act of 1978 ( 16 U.S.C. 2103c ), subject to the condition that an eligible practice shall be considered to be a conservation value for purposes of such consistency