Enacts new GS 139-7.1 to provide as title indicates. Requires the governing body of a soil and water conservation district to first adopt a resolution or ordinance that includes (1) the specific purposes of maintaining conservation easements, (2) the approximate periods of time during which the monies are to be accumulated for each purpose, (3) the approximate amounts to be accumulated, and (4) the sources of the monies. Allows amendments to the authorizing resolution or ordinance that authorize the use of monies in the special reserve fund for conservation easement maintenance purposes that were not previously included in the resolution or ordinance. Details accounting and investment procedures, and allows withdrawals from the fund in limited, specified circumstances. Includes whereas clauses. Amends GS 139-3 to define conservation easement as an easement that is (1) a qualified real property interest, (2) held by a qualified organization, and (3) used exclusively for conservation purposes (GS 40A-80). Effective July 1, 2011.