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 of parcels under 15 acres, bordered by impervious surfaces, to apply for such releases under specific conditions. These conditions include the lack of historical or cultural significance of the land and the requirement to secure sufficient mitigation credits to offset any wetland loss. 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 an annual review provision starting in 2026.