(a) The Salton Sea Conservancy is hereby created as a state agency within the Natural Resources Agency for both of the following purposes:
(1) To operate, maintain, and manage projects, as they are completed, that are planned or built under the authority of the Salton Sea Management Program to fulfill the state’s obligations as detailed in State Water Resources Control Board Order WR 2017-0134.
(2) To acquire, hold, and manage land and property rights, including easements and water rights, within the Salton Sea region after restoration or mitigation projects are built.
(b) The conservancy’s jurisdiction is limited to the Salton Sea region.