Bill > H1175

This bill modifies regulations related to mitigation banks, which are areas of land preserved or restored to compensate for environmental impacts from development projects. The bill introduces a new structured credit release schedule for mitigation banks, requiring credits to be released in specific stages: 30% upon recording conservation easements and establishing financial assurances, another 30% after initial construction, 20% as interim performance criteria are met, and the final 20% upon meeting final success criteria. The bill also provides a methodology for using mitigation credits outside a bank's designated service area, implementing a complex multiplier system that considers factors like proximity, watershed location, and whether the credits are for the same type of environmental resource. Additionally, the bill allows water management districts to release conservation easements on small parcels (less than 15 acres) surrounded by impervious surfaces, provided the landowner secures equivalent mitigation credits. Mitigation banks will be required to submit annual accountings of available credits, and the water management districts must compile this information into a report for the state legislature. These changes aim to provide more flexibility in environmental mitigation while maintaining ecological standards.

Agriculture and Natural Resources, Government Affairs

Natural Resources & Disasters Subcommittee (H), State Affairs Committee (H)

https://www.flsenate.gov/Session/Bill/2025/1175