FL S1668

Authorizes the Board of Trustees of the Internal Improvement Trust Fund to approve leases for seagrass mitigation banks to preserve and regenerate seagrass and offset unavoidable project impacts.

Requires seagrass mitigation banks on state lands to meet public interest criteria under chapters 253 and 258 of Florida Statutes.

Permits mitigation for seagrass and habitat impacts on sovereignty submerged lands with board of trustees approval.

Directs the Department of Environmental Protection to modify mitigation banking rules to eliminate duplicative financial assurance requirements and align with federal mitigation banking rules.

Effective date: July 1, 2021.