Bill > SB118

This bill establishes a Forest Carbon Registry, administered by the Division of Forestry, to track agreements and projects related to forest carbon offsets in West Virginia. A "forest carbon offset agreement" is a contract where a landowner agrees to maintain or improve carbon sequestration on their land for compensation from a "purchaser," who is the entity buying these carbon credits. A "forest carbon offset project" involves a third-party "developer" (an entity managing these projects) who finds landowners and sells carbon credits to purchasers. The registry will require the submission of a "GIS shapefile," which is a digital map showing the exact location and boundaries of the affected properties, along with other details like landowner and developer information, agreement dates, and management obligations. Developers and landowners who directly sell carbon offsets are responsible for recording these projects with the registry and in the county courthouse within 120 days of an agreement or any changes. Existing agreements must be recorded by July 1, 2027. Failure to comply can result in civil penalties, starting at $1,000 for a first offense and increasing to $2,000 for subsequent offenses, with collected fines supporting the registry's administration.

Agriculture and Natural Resources, Budget and Finance

http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=118&year=2026&sessiontype=RS&btype=bill