Commission adopts conservation finance resolution to authorize study and pilot analysis (implementation language struck)

The Legislative Permanent School Fund Commission adopted a conservation finance resolution on May 26 that directs support for the Office of School Trust Lands and the Department of Natural Resources to advance analysis and pilot projects related to conservation finance on school trust lands. The commission accepted a verbal amendment, offered by Senator Farnsworth, that removed the resolution's explicit reference to "implementation" before the final vote.

Chair Senator Kunesh moved the resolution and asked for discussion. Senator Farnsworth said the original language — which mentioned "study analysis, pilot projects, and implementation" — went further than he preferred and advocated striking "implementation" so the commission approved analysis before any action. Farnsworth said, "I would prefer to break that out, get rid of implementation, and just keep it to the analysis."

Director Aaron Vanderland and a Pew Charitable Trusts consultant described the resolution's origins in an effort to identify conservation-finance opportunities — particularly for peatlands and other low-income-producing natural resources — that might both restore ecological function and generate revenue for the school trust. The Pew consultant said the work aims to inform restoration and preservation investments and to evaluate whether projects can be viable revenue sources for the trust.

Vanderland said the report and the proposed work are intended to analyze viability and that the office would return with findings: "The project that I'm talking about is only an analysis project," he said, and offered to edit language if the commission preferred.

The chair asked the body if members were "in favor" of the verbal amendment; members responded "aye" and the amendment was accepted. A motion to adopt the amended resolution was then moved, seconded and approved by voice vote. The chair declared, "the conservation finance resolution passes." The meeting record shows no recorded nays.

Commissioners described the resolution as a nonbinding position statement that can be used to encourage DNR and OSTL collaboration, to support further analysis, and to provide a policy signal to future legislative sessions. Representative Igoe said the resolution gives the office "another tool" to elevate school trust land work and to return to the commission with additional findings.

Next steps: the resolution authorizes OSTL and DNR to pursue the analysis and potential pilot projects consistent with the commission's amended language; details, parcel selection and any on-the-ground restoration would require further analysis and eventual separate approvals.