1. Short title This Act may be cited as the Forest Legacy Management Flexibility Act . 2. Authority of States to allow qualified organizations to acquire, hold, and manage conservation easements under the Forest Legacy Program Section 7(l) of the Cooperative Forestry Assistance Act of 1978 ( 16 U.S.C. 2103c ) is amended by adding at the end the following new paragraph: (4) State authorization (A) In general At the request of a State acting through the State Lead Agency, the Secretary shall authorize the State to allow qualified organizations, as defined in section 170(h)(3) of the Internal Revenue Code of 1986, and organized for one or more of the purposes described in section 170(h)(4)(A) of that Code, to acquire, hold, and manage conservation easements, using funds granted to the State under this subsection, for purposes of the Forest Legacy Program in the State. (B) Eligibility To be eligible to acquire and manage conservation easements under this paragraph, a qualified organization described in subparagraph (A) must demonstrate to the Secretary the abilities necessary to acquire, monitor, and enforce interests in forestland consistent with the Forest Legacy Program and the assessment of need for the State. (C) Reversion If the Secretary, or a State acting through the State Lead Agency, makes any of the determinations described in subparagraph (D) with respect to a conservation easement acquired by a qualified organization under the authority of subparagraph (A)— (i) all right, title, and interest of the qualified organization in and to the conservation easement shall terminate