1. Short title This Act may be cited as the Land Ownership Collaboration Accelerates Life Act of 2018 or the LOCAL Act of 2018 . 2. References Except as otherwise specifically provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a provision, the reference shall be considered to be made to a provision of the Endangered Species Act of 1973 ( 16 U.S.C. 1531 et seq.). 3. Threatened and endangered species incentives program Section 5 ( 16 U.S.C. 1534 ) is amended by adding at the end the following: (c) Threatened and endangered species incentives program (1) The Secretary may enter into species recovery agreements pursuant to paragraph (2) and species conservation contract agreements pursuant to paragraph (3) with persons, other than agencies or departments of the Federal Government or State governments, under which the Secretary is obligated, subject to the availability of appropriations, to make annual payments or provide other compensation to the persons to implement the agreements. (2) (A) The Secretary and persons who are property owners of private land or water may enter into species recovery agreements with a term of not less than 5 years that meet the criteria set forth in subparagraph (B) and are in accordance with the priority established in subparagraph (C). (B) A species recovery agreement entered into under this paragraph by the Secretary with a person— (i) shall require that the person shall carry out, on the property owner's land or water, activities that— (I) protect, enhance, or restore other areas to become habitat for species determined to be endangered species or threatened species; (II) contribute to the recovery of one or more covered species; and (III) specify and implement a management plan for the covered species; (ii) shall specify such a management plan that includes— (I) identification of the covered species; (II) a description of the land or water to which the agreement applies