OR SB511

Department of State Lands must develop a salmon credit pilot program in the Coquille and Coos watershed basins to encourage voluntary restoration of wild coho and chinook salmon habitat on agricultural and forestlands

Agricultural and forestland owners can become "credit generators" by completing approved restoration projects, then receive ongoing dividend payments from the Salmon Credit Trust Fund based on retired credits from their projects

Credit purchasers can buy salmon credits to satisfy compensatory mitigation obligations required under state permits or to resolve violations of water resource laws

Credit generators must convey a permanent easement to the state for the restored habitat area; property tax benefits for farm use or forestland designations are preserved for project sites

Pilot program becomes operative once a federal programmatic general permit is established with the U.S. Army Corps of Engineers; no new projects may be approved after January 2 of the sixth year following permit establishment