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Committee adopts substitute creating state forest carbon registry with amended penalties and filing deadlines
Summary
A substitute for Senate Bill 730 to establish a West Virginia forest carbon registry was agreed to by the committee after testimony and a series of amendments that lowered penalties, adjusted enforcement timing, and narrowed who must file existing agreements; the substitute was reported to the full Senate and referred to finance.
The committee adopted a substitute for Senate Bill 730, which would create a state forest carbon registry administered by the Division of Forestry, and voted to report the substitute to the full Senate with the recommendation that it pass; under the committee’s motion the bill will next go to the Committee on Finance.
Counsel explained that the proposed registry would collect a legal description and GIS shapefile for properties encumbered by carbon-offset agreements, the names/contact information of landowners and purchasers, the date of execution or project initiation, and the duration and terms of offset obligations. Counsel said failure to record an agreement or project would be subject to a civil penalty for the first offense and…
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