Revision: Feb. 8, 2024, 10:44 a.m.
Rep. Vose, Rock. 5
February 5, 2024
2024-0482h
08/05
Amendment to HB 1697-FN
Amend the title of the bill by replacing it with the following:
AN ACT relative to forest carbon credit programs.
Amend the bill by replacing all after the enacting clause with the following:
1 Department of Revenue Administration; Timber Tax. The department of revenue administration shall conduct a study of the issues related to lost timber tax revenue as a result of forest lands located within New Hampshire being enrolled in carbon credit offset programs. The department shall provide its final report including its findings and any recommendations for proposed legislation to the legislature on or before November 1, 2024.
2 New Paragraph; Forest Registry; Rulemaking. Amend RSA 227-G:4 by inserting after paragraph XI the following new paragraph:
XII.(a) Establishment and maintenance of a public registry listing forest lands located within New Hampshire that are enrolled in one or more carbon programs that reflect the land's capacity to remove and store carbon from the atmosphere, including requirements for owners of such land to file a notice of enrollment that includes the following information insofar as the information is already publicly available:
(1) The legal name of the owner of the subject land;
(2) Reference to the tax map and lot number of the subject land;
(3) The name of the program, or program registry or registries, under which the subject land is enrolled;
(4) The date of enrollment in the forest carbon credit program;
(5) The period of enrollment in the forest carbon credit program; and
(6) Acreage of subject land.
(b) The land owner shall notify the municipality or municipalities where the subject land is located, or the applicable governing body or bodies of the territory in which the land is located, of the filing of a notice pursuant to subparagraph (a).
3 Effective Date. This act shall take effect upon its passage.
2024-0482h
AMENDED ANALYSIS
This bill:
I. Requires the department of revenue administration to conduct a study of the issues related to lost timber tax revenue as a result of forest lands located within New Hampshire being enrolled in carbon credit offset programs.
II. Requires the division of forestry to establish and maintain a public registry of all forest lands enrolled in a carbon program.