summary
Introduced
02/05/2025
02/05/2025
In Committee
04/29/2025
04/29/2025
Crossed Over
04/29/2025
04/29/2025
Passed
06/26/2025
06/26/2025
Dead
Signed/Enacted/Adopted
06/30/2025
06/30/2025
Introduced Session
2025 Regular Session
Bill Summary
An act relating to mitigation banks; amending s. 373.4136, F.S.; beginning on a specified date, revising the schedule for credit release upon issuance of a mitigation bank credit permit; providing specifications for such schedule; authorizing a mitigation bank applicant to propose an alternative credit release schedule; requiring the Department of Environmental Protection or water management district to modify an existing permitted credit release schedule upon request under certain circumstances; prohibiting mitigation credits from being released for freshwater wetland creation until certain conditions are met; authorizing one-time use of mitigation credits outside the mitigation bank service area in certain circumstances; requiring the department and water management districts to apply proximity factor multipliers in a specified manner; specifying that the use of certain multipliers meets certain requirements; requiring the department or water management district to request an accounting of credit availability from mitigation banks within a specified timeframe; specifying the timeframe to reply to such request; requiring the permit applicant to be notified of credits available; providing a presumption if a mitigation bank does not respond within a certain timeframe; limiting the timeframe for the permit applicant to rely on a credit availability determination for specified purposes; requiring each mitigation bank to submit an accounting of credits; requiring the department or water management district to compile such accountings for a specified purpose and to submit a report including certain information to the Legislature on a specified date and annually thereafter; providing an effective date.
AI Summary
This bill modifies Florida's regulations for mitigation banks, which are environmental restoration sites used to offset ecological damage from development projects. Starting July 1, 2025, the bill establishes a new credit release schedule for mitigation banks, with credits being released in four stages: 30% upon conservation easement recordation and financial assurances, another 30% after initial construction, 20% in increments as interim performance criteria are met, and the final 20% upon meeting final success criteria. The bill allows mitigation bank applicants to propose alternative credit release schedules and permits modifications to existing schedules under certain conditions. It introduces new rules for using mitigation credits, including a one-time allowance to use credits outside the bank's service area when sufficient credits are unavailable. The legislation also establishes a proximity factor multiplier system to determine credit usage, with different multipliers applied based on the location and type of credits used. Additionally, the bill requires mitigation banks to submit annual accountings of their available credits, and mandates that the Department of Environmental Protection or water management districts compile this information and report to the Legislature. These changes aim to provide more flexibility and transparency in the mitigation banking process while ensuring ecological restoration standards are maintained.
Committee Categories
Budget and Finance
Sponsors (1)
Other Sponsors (2)
Appropriations Committee on Agriculture, Environment, and General Government (Senate), Rules (Senate)
Last Action
Chapter No. 2025-191 (on 06/30/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
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