OR SB1204

Department of State Lands, with Oregon Department of Fish and Wildlife, must develop a salmon credit pilot program to encourage voluntary restoration of wild coho and chinook salmon habitat in the Coquille and Coos watershed basins

Agricultural and forestland owners can become "credit generators" by completing habitat restoration projects on their land, with salmon credit prices set at double the average project costs to provide financial incentives

Credit generators receive half the credit payment upfront upon sale, with the remaining half deposited into the newly established Salmon Credit Trust Fund to pay ongoing annual dividends as long as the project meets program requirements

Program requires federal authorization from the U.S. Army Corps of Engineers before becoming operative, and no new projects may be approved after January 2 of the sixth year following federal approval

Properties with salmon credit projects retain their farm use or forestland tax assessment status, and landowners keep existing hunting and fishing rights on their property