Bill > HB0411

This bill establishes a comprehensive framework for the state of Utah's management and ownership of environmental commodities, which are defined as representations of the financial value of greenhouse gas reductions or prevention. The legislation creates new definitions for key terms like "environmental commodity" (specifically referring to carbon dioxide and methane reductions), "state entity," and "state funds," and establishes reporting requirements for state entities seeking to sell or exchange these commodities. Before selling or exchanging an environmental commodity, state entities must obtain a digital identification number and report both the number and the state funds used in its creation to the appropriate office, with an exemption for commodities created on school and institutional trust lands. If state funds are used to create an environmental commodity, the state will own a proportional share, which the state treasurer may sell, exchange, or hold in a manner that benefits citizens, promotes energy independence, maximizes natural resources, and aligns with state energy policy. Additionally, environmental commodities created or purchased by a state entity will remain under that entity's control. The bill is set to take effect on May 7, 2025, and represents a structured approach to managing and potentially monetizing greenhouse gas reduction efforts at the state level.

Agriculture and Natural Resources, Business and Industry

https://le.utah.gov/~2025/bills/static/HB0411.html