CA AB1504

Adds carbon dioxide sequestration to the list of public needs and values the state's forest management policies should consider alongside timber production, watershed protection, wildlife, and recreation.

Requires the Board of Forestry and Fire Protection to ensure its harvesting regulations consider forests' capacity to sequester carbon emissions sufficient to meet the state's greenhouse gas reduction targets for the forestry sector, consistent with the State Air Resources Board's scoping plan.

Establishes legislative findings that state forests currently sequester five million metric tons of carbon dioxide annually and are the only sector in the scoping plan providing net greenhouse gas sequestration.

Permits fees collected under the California Global Warming Solutions Act of 2006 to fund research studies and technical analyses by the board or department to comply with the new carbon sequestration requirements, upon legislative appropriation.

Specifies that no local reimbursement is required under the California Constitution because any local costs result from changes to criminal penalties, not new substantive mandates.