Vote Smart's Synopsis:

Vote to pass a bill that authorizes the division of forestry to administer a carbon exchange program in West Virginia.

Highlights:

• Authorizes the Division of Forestry to administer a Forest Management Exchange Program, known as the Forest Management Exchange, to regulate the sale and purchase of carbon credits, and which shall serve as the exclusive contracting platform for all carbon credit agreements encumbering or involving real property and standing timber located in West Virginia (Sec. 1). 

• Defines terms related to carbon exchange programs (Sec. 1). 

• Specifies that no carbon credit originating from real property or standing timber in West Virginia may be sold other than through the West Virginia Forest Management Exchange (Sec. 1). 

• Specifies that the management exchange shall regulate all carbon credit agreements (Sec. 1). 

• Specifies that the West Virginia Forest Management Exchange shall be a public marketplace open to businesses and consumers alike (Sec. 1). 

• Authorizes the West Virginia Forest Management Exchange to allow persons interested in purchasing West Virginia carbon credits to solicit offers for carbon credit agreements (Sec. 1).

Full Bill Text