S-0461.1 _______________________________________________
SENATE BILL 5121
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State of Washington 56th Legislature 1999 Regular Session
By Senator Hargrove
Read first time 01/13/1999. Referred to Committee on Natural Resources, Parks & Recreation.
AN ACT Relating to the establishment of a carbon storage program; creating a new section; and providing an expiration date.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. (1) Companies that generate carbon dioxide emissions or manufacture products that emit carbon dioxide are purchasing carbon credits from landowners and from other companies in order to provide carbon credits. Companies that are purchasing carbon credits would benefit from a program to trade and to bank carbon credits. Washington state forests are one of the most effective resources that can absorb carbon dioxide from the atmosphere. Forests provide "carbon storage." Washington contains the most productive forests in the world and both public and private landowners could benefit from a carbon storage trading and banking program. The state should manage forest lands in a manner to allow marketing of those lands for carbon storage credits without negatively affecting the long-term forest production of public and private lands.
(2) The board of natural resources in cooperation with the department of ecology and the department of natural resources will evaluate other states' and nations' attempts to establish carbon credit programs and will develop, by December 1, 1999, recommendations for the next regular session of the Washington state legislature. The board of natural resources shall review methods and scientific programs that are used to implement carbon storage programs. The board of natural resources will analyze other programs in the state of Washington that could facilitate a carbon storage program and would guarantee a stable carbon storage market.
(3) The department of natural resources and the department of community, trade, and economic development will jointly review carbon storage programs and carbon storage requirements world-wide and will prepare appropriate legislative responses as recommendations to the next regular session of the legislature by December 1, 1999.
(4) This section expires December 31, 1999.
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