; and (B) subject to a pending offer for the purchase of a groundwater conservation easement from an eligible entity, the purchase of which would— (i) promote reduced groundwater consumption and reduced reliance on groundwater; and (ii) advance local, regional, or State groundwater management consistent with the purposes of the groundwater conservation easement program. (4) Groundwater conservation easement (A) In general The term groundwater conservation easement means an easement or other interest in eligible water rights that— (i) is conveyed for the purpose of supporting local, regional, or State groundwater management that reduces groundwater consumption while providing community and environmental benefits; (ii) includes restrictions on the consumption of groundwater related to the historical withdrawals of the groundwater of the landowner associated with the entirety of the eligible land associated with the eligible water rights