The 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 "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 to the Secretary of Environmental Protection, the Governor, and the Legislature by specified deadlines.

The task force's duties include identifying suitable environments for carbon sequestration, evaluating methods to enhance carbon storage, and recommending benchmarks for increasing carbon sequestration in ecosystems. The bill stipulates that participation in any carbon sequestration program is voluntary, and landowners cannot be penalized for opting out. Additionally, any future regulatory frameworks related to carbon sequestration will require explicit legislative approval. The task force is set to expire on April 30, 2028, and the act will take effect on July 1, 2025.