FL S1470

Department of Agriculture and Consumer Services shall establish by rule a compliance market for carbon dioxide emissions to facilitate carbon credit trading for agricultural producers, in consultation with the Department of Environmental Protection.

Department may contract with public or private entities to administer the market.

Rules must establish project eligibility requirements including minimum acreage, crop types, agricultural practices that avoid or capture carbon emissions, and prevent emissions leakage.

Carbon credits must be based on scientific evidence verified by third parties, enrolled in credible carbon registries, and issued only for projects storing carbon for 100 years that would not have occurred without the credit.

Department shall submit annual status reports beginning January 1, 2024, to the Governor and Legislature with recommendations for necessary statutory changes.