HI HB2711

Authorizes the Department of Land and Natural Resources to establish and operate conservation mitigation banks to restore, create, enhance, or preserve conservation habitats or resources as compensatory mitigation for environmental impacts.

Allows the Department to contract with third-party administrators specializing in mitigation banking to operate and manage the conservation mitigation banks.

Permits investors in conservation mitigation banks to sell credits generated from ecological conditions to persons or entities that need credits to compensate for environmental impacts they have caused, without requiring investors to own the land.

Defines "conservation mitigation bank" as a parcel of land managed to restore or maintain ecological conditions including functional wildlife habitat and endangered species presence for a set time period, encompassing both species and habitat mitigation.

Authorizes the Department to adopt rules under chapter 91 as necessary to implement the conservation mitigation banking program.