The proposed bill establishes the Carbon Sequestration Task Force as an adjunct to the Department of Environmental Protection, aimed at developing a statewide carbon sequestration program. It includes definitions for key terms such as "blue carbon" and "carbon sequestration," and outlines legislative findings that emphasize the importance of maintaining coastal and freshwater ecosystems for the state's economy and environmental health. The task force will consist of various appointed members, including representatives from environmental organizations, agriculture, and state universities, and is required to submit reports detailing its activities and recommendations by specified deadlines.

Additionally, the bill appropriates $350,000 in nonrecurring funds from the Administrative Trust Fund for the 2025-2026 fiscal year to support the task force's operations. The task force is mandated to identify suitable environments for carbon sequestration, develop methodologies for measuring carbon levels, and recommend benchmarks for increasing carbon sequestration. The task force is set to terminate on April 30, 2028, following the submission of its final report to the Governor and legislative leaders. The act is scheduled to take effect on July 1, 2025.