H.B. 1986 Summary

• Requires the Office of Planning in partnership with the Greenhouse Gas Sequestration Task Force to investigate and establish a carbon offset program framework

• Carbon offset program must provide expertise to public agencies and private entities on carbon offsetting, generation, certification, and marketing of carbon credits

• Allows revenues from state department sales of carbon offset credits to be reinvested into projects generating additional carbon credits or enhancing state climate change mitigation and adaptation efforts

• Office of Planning must submit findings, recommendations, and any proposed legislation to the Legislature and Climate Change Mitigation and Adaptation Commission no later than twenty days before the 2020 regular legislative session

• Appropriates $150,000 from general revenues for fiscal year 2018-2019 to the Office of Planning to investigate and establish the program; effective July 1, 2018