The proposed bill aims to establish a Forest Carbon Registry in West Virginia, administered by the Division of Forestry, to track properties encumbered by carbon offset agreements and projects. It introduces new legal language defining key terms such as "forest carbon offset agreement," "forest carbon offset project," and "GIS shapefile," which are essential for the functioning of the registry. The bill mandates that developers and landowners record their carbon offset activities, including the submission of GIS shapefiles, within 60 days of executing agreements or initiating projects. Additionally, it sets a deadline of July 1, 2027, for existing agreements to be recorded in the county courthouse, ensuring transparency and accountability in forest carbon management.

To enforce compliance, the bill outlines civil penalties for noncompliance, including fines of $2,500 for the first offense and $5,000 for the second, with subsequent offenses leading to the permanent suspension of the responsible party's business license. The Division of Forestry is also empowered to pursue legal actions to ensure adherence to the new regulations. The collected penalties will be deposited into the division's operating fund to support the registry's administration. Overall, this legislation aims to enhance the management of forest carbon resources in West Virginia while promoting responsible practices among landowners and developers.

Statutes affected:
Introduced Version: 19-1D-1, 19-1D-2, 19-1D-3, 19-1D-4
Committee Substitute: 19-1D-1, 19-1D-2, 19-1D-3, 19-1D-4
Committee Substitute for the Committee Substitute: 19-1D-1, 19-1D-2, 19-1D-3, 19-1D-4