This bill mandates that landowners participating in carbon sequestration programs submit a forest management plan to the Division of Forests and Lands and the Fish and Game Department. The plan must adhere to best forestry practices and include a habitat protection component developed in consultation with biologists from the Fish and Game Department, addressing potential impacts on fish and wildlife habitat. The Division and the Department will jointly review and approve these plans, with periodic on-site inspections to ensure compliance. If a landowner is found to be in material noncompliance, the Division may suspend or revoke the plan's approval.

The bill introduces a new section, RSA 79:38, which outlines the requirements for forest carbon sequestration management, including the submission and approval process for management plans. It also allows the Commissioner of the Department of Natural and Cultural Resources to adopt rules for implementing these provisions. The fiscal impact of the bill includes estimated costs for the Department of Natural and Cultural Resources and the Fish and Game Department, with the former requiring additional staffing and resources to manage the new responsibilities. The bill does not provide funding or authorize new positions, but it anticipates costs associated with the implementation of the management plans.