Summary of Original Version

Create new sections of KRS Chapter 150 to define "compensatory mitigation," "compensatory mitigation project," "compensatory mitigation site," "DA permit," "mitigation credit," " in-lieu fee program," "in-lieu fee program instrument," "mitigation bank," "mitigation credit," "service area," and "mitigation liability"; re-establish the Kentucky wetland and stream mitigation fund in a newly created section; require funds representing an unsatisfied liability under the 2008 Mitigation Rule issued by the Department of Army to be put out for contract under KRS Chapter 45A; require the Department of Fish and Wildlife Resources to make a report to the LRC that describes the in-lieu fee program and unsatisfied liabilities in service areas by December 1 of each year; allow the state to hold a permanent easement in lands acquired by it or proposed to it by a mitigation bank; require entities to have financial surety; amend KRS 150.255 to specify how governmental and non-governmental agencies satisfy compensatory mitigation; stipulate that when the unsatisfied mitigation liability reaches 2 million dollars the in-lieu fee program shall purchase credits or issue an RFP for a commodity purchase; specify the procurement for full-delivery and the actions for mitigation on the site under the full-delivery approach; allow for compensatory mitigation to be a capital construction project with the Commonwealth holding a conservation easement or some other environmental covenant or restriction; identify requirements for responsive bidders; APPROPRIATION.

Summary of Amendment: Senate Committee Substitute 1

Summary Delete all sections of SB 261; amend KRS 150.255 to add a report by the Kentucky Stream and Wetland Mitigation fund to the Legislative Research Commission; create a 13 member In-Lieu Fee Stream and Wetland Mitigation Task Force; specify the mission of the task force to examine process, impediments, and improvements to delivering compensatory mitigation by the in-lieu fee program operated by the Kentucky Department of Fish and Wildlife Resources; require the task force to meet at least four times during the 2021 interim and to submit findings, recommendations, or memorandum to the Legislative Research Commission by November 30, 2021.

Summary of Amendment: Senate Committee Amendment 1 -- R. Webb

Summary Make title amendment.

Statutes affected:
Introduced: 150.255
Senate Committee Substitute 1: 150.255
Current: 150.255