5121-S AMS JACO S3762

5121-S AMS JACO S3762.1

SSB 5121 - S AMD - 005

By Senator Jacobsen

Strike everything after the enacting clause and insert the following:

"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 forests are one of the most effective resources that can absorb carbon dioxide from the atmosphere. Forests, and other planted lands and waters, 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 all lands and waters in a manner to allow marketing of those lands for carbon storage credits without negatively affecting the long-term production of public and private lands.

(2) The department of community, trade, and economic development, as lead agency in cooperation with the department of ecology, the department of agriculture, and the department of natural resources, will evaluate other states' and nations' attempts to establish carbon credit programs and will develop, by December 1, 2000, recommendations for the next regular session of the Washington state legislature. The departments shall review methods and scientific programs that are used to implement carbon storage programs. The departments will analyze other programs in the state of Washington, including the conservation reserve enhancement program, that could facilitate a carbon storage program and 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, 2000.

(4) An advisory group shall be appointed by the agencies listed in subsection (2) of this section. The advisory group shall consist of one representative of the timber industry, one representative of the agricultural community, one representative of the industrial business community, one representative of private landowners, and an expert on carbon sequestration from the University of Washington. The advisory group shall be consulted by, and offer its advice to, the agencies listed in subsection (2) of this section on all matters addressed by this section. The agencies listed in subsection (2) of this section shall consider and include the input of the advisory group in all of their activities under this section.

(5) This section expires December 31, 2000."

SSB 5121 - S AMD

By Senator Jacobsen

On page 1, line 1 of the title, after "program;" strike the remainder of the title and insert "creating a new section; and providing an expiration date."