HB2047 – Researches carbon sequestration and supports participation in existing forest carbon markets and incentive programs.
Prime Sponsor – Representative Ramos (D, 5th District, Issaquah) (By request of the Department of Natural Resources)
Current status – Had a hearing in the House Committee on Rural Development, Agriculture, & Natural Resources, February 20th at 8:00 AM. Passed out of committee with an amendment February 22nd; referred to Appropriations. Second substitute passed out of Appropriations February 28th. Referred to Rules. Placed on 2nd Reading March 11th 2019. Reintroduced and retained in present status for 2020 session. Now in the House Rules “X” file.
Next step would be – Action by the Rules Committee.
Legislative tracking page for the bill.

Comments –
The amendment added aquatic lands to the bill.

Summary –
Subject to specific appropriations, would expand DNR’s current research on establishing baseline inventories for carbon stocks, flux, trends, emissions, and sequestration in forests across the state. Requires a report to the Legislature on results, needs for further research, ways to improve the methods, and a suggested schedule for updates by December 1st, 2020.

Subject to specific appropriations, would require DNR to help interested owners of forest land connect with existing carbon markets and other incentive-based carbon emission reduction and sequestration programs. This may include:

• Identifying carbon market opportunities and incentive programs;
• Matching interested and willing landowners with appropriate programs;
• Studying the overlaps and interactions among different programs and identifying roadblocks to expanding them;
• Assisting landowners with access to feasibility analyses, market applications, stand inventories, pilot project support, and other services;
• Supporting policies that increase access to these programs;
• Developing and, when possible, implementing incentives for participation in them, and;
• Sharing best practices for expanding carbon storage and access to incentive programs.

DNR is to provide interim reports about this work to the Legislature and a final report by December 1, 2023.

Subject to specific appropriations, the Governor and DNR must form a carbon sequestration advisory group to report to the Legislature by December 1st 2019 and every two years after that on ways to effectively advance and accelerate carbon sequestration throughout the state, considering the need to maintain existing long-lived carbon stocks and the need to make carbon sequestration easier; focusing on market efficiency and reducing transaction costs; on avoiding unintended consequences; and on maintaining a viable forest products and sawmill industry.

Details: