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2022 SESSION
SB 187 Nutrient credits; DEQ to accelerate release of credits generated by stream restoration project.
Introduced by: Emmett W. Hanger, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Accelerated stream nutrient credit release. Allows the Department of Environmental Quality to accelerate the release of nutrient credits generated by a stream restoration project based on (i) a determination that the level of risk is low, (ii) the provision of additional financial assurance, and (iii) the experience of the applicant. The provisions of the bill become effective 30 days after the Department of Environmental Quality issues guidance regarding its implementation.
SUMMARY AS PASSED SENATE:
Accelerated stream nutrient credit release. Allows the Department of Environmental Quality to adopt guidance allowing for the accelerated release of nutrient credits generated by a stream restoration project based on (i) a determination that the level of risk is low, (ii) the provision of additional financial assurance, and (iii) the experience of the applicant.
SUMMARY AS INTRODUCED:
Accelerated stream nutrient credit release. Allows the Department of Environmental Quality to accelerate the release of nutrient credits generated by a stream restoration project if a qualified applicant, defined in the bill, provides sufficient bond to (i) provide a high degree of confidence that performance standards will be achieved and (ii) cover the cost of correcting a failure to achieve the performance standards.