This bill addresses the state ownership of certain environmental assets.
This bill:
- defines terms;
- requires a state entity selling or exchanging an environmental commodity to report a digital identification number to the Office of Energy Development;
- exempts from reporting requirements an environmental commodity created from activities on school and institutional trust lands;
- declares that an environmental commodity created from activities receiving state funds is the property of the state in proportion to the state funds contributed to create the environmental commodity;
- clarifies that an environmental commodity created or purchased by a state entity remains under the control of the state entity; and
- establishes duties for the state treasurer in managing an environmental commodity.