Committee hears bill to let DNR monetize certain ecosystem service projects on state lands

At a meeting of the House Agriculture and Natural Resources Committee, staff briefed members on House Bill 1508, which would authorize the Department of Natural Resources to monetize certain ecosystem service projects on state trust lands and require the Board of Natural Resources to provide oversight.

The bill would limit eligible projects to afforestation, reforestation or aquatic projects (including carbon sequestration and climate stabilization), allow contracts for up to 125 years, require that a project result in a revenue increase to trust beneficiaries, and direct DNR to report to the Legislature on project payments, project types and projected revenues as well as any issues encountered and the operability of carbon offset rules.

Supporters including timber companies and some forest-land managers said HB 1508 is a measured first step that can generate new revenue for schools and local beneficiaries while allowing ecosystem work on state land. Bill Turner, Washington and Oregon timber…