The proposed bill seeks to improve revenue generation and economic opportunities in Washington State through the implementation of natural climate solutions and ecosystem services. It introduces new definitions related to ecosystem services, such as "ecosystem service credit," "ecosystem service marketplace," "ecosystem service project broker," and "ecosystem service project developer." The bill empowers the Department of Natural Resources to enter into contracts for ecosystem service projects on public lands, focusing on afforestation, reforestation, and aquatic initiatives. These contracts, which can last up to 125 years, must align with existing policies, support workforce development, and respect tribal rights and land management practices. Proceeds from these contracts are required to be deposited into the state treasury.

Additionally, the bill amends existing laws to incorporate ecosystem services into the management framework for state lands, allowing for their sale under specific conditions. It mandates the Department to report on the implementation progress by December 1, 2026, and ensures that generated revenues support public schools and local counties. The legislation emphasizes the need for the sale of ecosystem services to be consistent with a newly created chapter and the action agenda of the Puget Sound partnership. It also calls for the development of performance measures for grant management and requires consultation with affected interest groups, aiming to enhance natural resource management while aligning with state interests and environmental goals.

Statutes affected:
Original Bill: 70A.65.170, 79.105.150, 90.71.310