The bill amends Florida's laws regarding mitigation banks, specifically addressing the release and use of mitigation bank credits. It establishes a structured credit release schedule, requiring the release of 30% of awarded credits upon the recordation of a conservation easement and the establishment of financial assurances, with further releases contingent on construction activities and performance criteria. The bill also permits alternative credit release schedules proposed by permit applicants and mandates annual accountings of available credits to be submitted to the Department of Environmental Protection or water management districts for legislative reporting.

Additionally, the bill introduces provisions for the release of conservation easements, allowing landowners to apply for the release of easements under certain conditions, such as the land being less than 15 acres and bordered by impervious surfaces. It stipulates that adjacent undeveloped parcels must meet similar criteria, and the land must not have historical or cultural significance. Upon release, the property will be assessed for ad valorem taxes based on its just value and may be developed according to the zoning of adjacent lands. The bill is set to take effect on July 1, 2025, with provisions applicable starting October 1, 2026, and each October 1 thereafter.