Revision: July 25, 2024, 4:30 p.m.
CHAPTER 255
HB 1697-FN - FINAL VERSION
22Feb2024... 0482h
05/02/2024 1614s
2024 SESSION
24-3134
08/10
HOUSE BILL 1697-FN
AN ACT relative to forest carbon credit programs.
SPONSORS: Rep. A. Davis, Coos 2; Rep. Ouellet, Coos 3; Rep. Tierney, Coos 1; Rep. S. King, Coos 4; Rep. Cascadden, Coos 5; Rep. Noel, Coos 5
COMMITTEE: Science, Technology and Energy
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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.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
22Feb2024... 0482h
05/02/2024 1614s 24-3134
08/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Four
AN ACT relative to forest carbon credit programs.
Be it Enacted by the Senate and House of Representatives in General Court convened:
255:1 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 a preliminary report including its findings and any recommendations for proposed legislation to the legislature on or before November 1, 2024, and a final report on or before November 1, 2025.
255:2 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 or their agent, or the forest carbon program administer, 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).
255:3 Effective Date. This act shall take effect upon its passage.
Approved: July 19, 2024
Effective Date: July 19, 2024