|
|
|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to the establishment by the State Soil and Water |
|
Conservation Board of a carbon dioxide sequestration or emissions |
|
offset program. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Subchapter B, Chapter 201, Agriculture Code, is |
|
amended by adding Section 201.029 to read as follows: |
|
Sec. 201.029. CARBON DIOXIDE SEQUESTRATION OR EMISSIONS |
|
OFFSET PROGRAM. (a) In this section: |
|
(1) "Aggregator" means a person who is authorized by |
|
one or more landowners to enter into a contract for the use of land, |
|
vegetation, or a geologic formation in connection with a project. |
|
(2) "Project" means a project to sequester carbon |
|
dioxide or offset emissions of carbon dioxide. |
|
(3) "Verifier" means an entity that confirms, visually |
|
or through direct measurement and by review of applicable records, |
|
the accuracy of reported information regarding the sequestration of |
|
carbon dioxide or the offsetting of emissions of carbon dioxide by a |
|
project. |
|
(b) The state board is designated as the lead agency in this |
|
state for projects on private agricultural lands. |
|
(c) A person must be certified by the state board to serve as |
|
an aggregator. The state board shall work with the Texas Department |
|
of Licensing and Regulation to establish a process for certifying |
|
aggregators. |
|
(d) The state board shall maintain a database of all |
|
certified aggregators in this state. |
|
(e) The state board is designated as the official verifier |
|
for purposes of determining whether a project that is the subject of |
|
a carbon dioxide credit bought and sold in this state has achieved |
|
the goals of the credit. The state board may contract with |
|
conservation districts to carry out the verification process. A |
|
conservation district with which the state board enters into a |
|
contract under this subsection must have expertise and experience |
|
in the specifications and methods used to develop and assess carbon |
|
dioxide sinks associated with agriculture. The state board shall |
|
collect a fee for all verification services provided and may impose |
|
a penalty for late payment of a fee. |
|
(f) The state board shall maintain a database of all carbon |
|
dioxide credits bought and sold in this state. Information in the |
|
database that identifies a seller or purchaser of carbon dioxide |
|
credits is confidential and not subject to public disclosure. |
|
(g) The carbon dioxide sequestration or emissions offset |
|
fund is created in the state treasury. |
|
(h) The fund consists of: |
|
(1) fees charged under this section; |
|
(2) the penalties for the late payment of fees charged |
|
under this section; |
|
(3) gifts, grants, or other assistance received by the |
|
state board from any source for the purposes of this section; and |
|
(4) interest earned on amounts in the fund. |
|
(i) The fund may be used only by the state board to pay for |
|
activities relating to the carbon dioxide sequestration or |
|
emissions offset program established under this section, including |
|
direct and indirect costs relating to: |
|
(1) researching, developing, marketing, advertising, |
|
and informational programs relating to carbon dioxide |
|
sequestration and emissions offsets to make them more |
|
understandable and readily available; and |
|
(2) the administrative costs incurred by the state |
|
board under this section. |
|
(j) The state board may apply for, request, solicit, |
|
contract for, receive, and accept gifts, grants, and other |
|
assistance from any source for the purposes of this section. Money |
|
received under this subsection shall be deposited in the fund. |
|
SECTION 2. This Act takes effect September 1, 2009. |