H-1800

AN ACT Relating to carbon sequestration; creating new sections; and making appropriations.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1. The legislature finds that some private sector companies that generate carbon dioxide emissions or manufacture products that emit carbon dioxide, have begun purchasing carbon credits from landowners and other companies that have invested in energy efficiency retrofits. The companies that are purchasing these credits recognize that the development of a market or trading program for these credits would be beneficial. Forests are one of the most effective long-term resources able to absorb carbon dioxide. These forests are known to provide "carbon storage" or "carbon sinks." Because Washington contains some of the most productive forests worldwide, nonindustrial private forest landowners could greatly benefit from the establishment of a formally recognized carbon storage trading program. Marketing forest land for carbon storage could provide additional revenue to nonindustrial forest landowners and this could act as an incentive to maintain the land base in long-term forest production. Therefore, it is essential that the state develop a carbon sequestration program to allow the market-based trading of carbon emissions within and across national and international jurisdictions.

NEW SECTION. Sec. 2. A committee to develop a Washington state carbon sequestration implementation and certification plan is created. Staff support for the committee shall be provided by the office of program research in the house of representatives and by senate committee services.

(1) The committee shall consist of:

(a) One member from each of the two largest caucuses of the senate, selected by the president of the senate;

(b) One representative from each of the two largest caucuses of the house of representatives, selected by the co-speakers of the house of representatives; and

(c) The following members to be jointly appointed by the co-speakers of the house of representatives and the president of the senate:

(i) One person from the college of forest resources of the University of Washington;

(ii) One person representing the timber industry;

(iii) One person representing local government;

(iv) One person representing environmental interests;

(v) One person representing tribal interests;

(vi) One person representing the department of natural resources;

(vii) One person representing farm forestry;

(viii) One person representing agriculture;

(ix) One person from the Washington State University college of agriculture;

(x) One person representing the department of ecology;

(xi) One person representing the department of community, trade, and economic development; and

(xii) One person representing a carbon-emitting industry.

(2) The committee shall prepare a report to the legislature by December 15, 1999, that includes:

(a) A report on carbon sequestration activities that could earn credits and receive payment for mitigation of carbon released to the atmosphere, and shall include research on market opportunities in the state of Washington;

(b) Recommendations for a system to register trades;

(d) Procedures to allow for the measurement, verification, and tracking of proposed carbon sequestration projects.

(3) The sum of fifty thousand dollars, or as much thereof as may be necessary, is appropriated for the biennium ending June 30, 2001, from the general fund to the house of representatives for the purpose of preparing the report on the Washington state carbon sequestration implementation and certification plan.

(4) The sum of fifty thousand dollars, or as much thereof as may be necessary, is appropriated for the biennium ending June 30, 2001, from the general fund to the senate for the purpose of preparing the report on the Washington state carbon sequestration implementation and certification plan.

(5) The committee expires on December 31, 1999.