1. "Commission" shall mean the State Commission of Forestry.

2. "State Forester" shall mean the director of the State Commission of Forestry.

3. "Eligible landowner" shall mean a private individual, group, partnership, association, corporation or other legal entity which owns nonindustrial private forest lands capable of producing industrial wood crops. Where forest land is owned jointly by more than one individual, group, association or corporation, as tenants in common, tenants by the entirety, or otherwise, the joint owners shall be considered, for the purposes of this chapter, as one eligible landowner and shall be entitled to receive cost-sharing payments as provided herein. Private entities which engage in the business of manufacturing forest products, including, but not limited to, sawmills, pulp mills, paper mills, plywood plants, oleoresin plants or providing public utilities services of any type or the subsidiaries of such entities shall not be included in such definition but private individual forest landowners who are stockholders in such business are included.

4. "Eligible lands" shall mean land owned by an eligible landowner.

5. "Cost-sharing payment" shall mean financial assistance to partially cover the cost of implementing approved practices in such amounts as the State Forester shall determine, subject to the limitations of this chapter.

6. "Approved practices" shall mean those silvicultural practices approved by the State Forester for the purpose of commercially growing timber through the establishment of forest stands or of ensuring the proper regeneration of forest stands to commercial production levels following the harvest of timber. Such practices shall include those required to accomplish site preparation, natural and artificial reforestation, noncommercial removal of undesirable vegetation for silvicultural purposes and cultivation of established young growth of desirable trees. In each case, approved practices shall be determined by the needs of the individual forest stand. These practices shall include existing practices and such practices as are developed in the future to ensure both maximum forest productivity and environmental protection.

7. "Approved forest management plan" shall mean a forest management plan approved by the State Forester for an eligible landowner. Such plan shall include forest management practices to ensure both maximum forest productivity and environmental protection of the lands to be treated under the management plan.

8. "Forest renewal fund" shall mean the special nonlapsing fund provided by § 48-28-100 established in the Commission designated as the forest renewal fund.

9. "Forest renewal assessment" shall mean an assessment on primary forest products from timber severed in South Carolina for the funding of the provisions of this chapter.

10. "Slippage" shall mean the difference in funds earmarked in the management plan for an approved practice and funds actually earned when the practice is completed.