Committee hears bill to let DNR sell ecosystem-service credits on trust lands

At a House Agriculture and Natural Resources Committee meeting, members heard testimony on House Bill 1508, which would authorize the Department of Natural Resources to monetize specified ecosystem-service projects on state trust lands, including afforestation, reforestation and aquatic projects, and allow contracts that may run up to 125 years.

The bill’s sponsor, Rep. Christine Reeves, said the measure is designed to add “tools in the toolbox” for state agencies to generate revenue for trust beneficiaries, particularly public schools, while offering an option other than timber harvest. Staff told the committee the bill requires DNR to report to the Legislature on project payments, types and projected revenues and gives the Board of Natural Resources oversight responsibilities.

Lily Smith, staff to the committee, described the bill as substantially similar to a prior House bill and said eligible projects under the bill “must be an afforestation, reforestation, or an aquatic project” and “may include things like carbon sequestration and climate stabilization.” Smith told members that contracts for ecosystem projects may last for up to 125 years and that DNR must submit a report to the Legislature documenting payments and operability of carbon-offset rules.

Rep. Reeves, the…