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Committee advances moratorium, study commission for large timber carbon-sequestration projects
Summary
The Senate Energy and Natural Resources Committee voted to recommend passage of an amendment establishing a study commission and a moratorium on carbon sequestration projects larger than 500 acres, with payment-in-lieu-of-taxes language and a defined sunset for the commission.
The Senate Energy and Natural Resources Committee voted to recommend that a bill establishing a study commission and a moratorium for large carbon-sequestration timber projects ought to pass as amended.
The amendment adopted by the committee creates a study commission made up of stakeholders, defines "pre-sequestration of timber," and places a moratorium on new carbon-sequestration projects over 500 acres while the commission studies the issue. The amendment also adds a payment-in-lieu-of-taxes (PILT) option tied to RSA 79‑5, exempts existing contracts from the moratorium and…
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