AL HB463

Proposes a local constitutional amendment applicable only to Coosa County relating to Forever Wild Land Trust property.

Requires the Department of Conservation and Natural Resources to ensure that at least 50 percent of all Forever Wild Land Trust property in Coosa County is available on a marketplace for carbon credits or similar forestry carbon offsets, effective no later than January 1, 2025.

Directs any income received from carbon credits or forestry carbon offsets generated from Forever Wild forest resources in Coosa County to be credited to the General Fund of Coosa County instead of the state general fund.

Changes existing law under which all income from Forever Wild Land Trust property is treated as interest of the Alabama Trust Fund and credited to the State General Fund.

Election on the proposed amendment shall be held in accordance with Section 284.01 of the Alabama Constitution and state election laws.