1. (a) The Department may enter into partnerships, through formal contracts or memoranda of understanding, with private sector organizations with experience in carbon offset markets or programs in order to:

   1. (1) Create statewide or regional partnerships for the purpose of minimizing the costs and maximizing the benefits of enrolling private and public lands in carbon offset markets; and
   2. (2) Assist private landowners with the aggregation of projects to make the projects more saleable in carbon offset market programs.

2. (b) To learn about establishing and verifying carbon credits, on or before July 1, 2024, the Department, in consultation with appropriate experts, shall begin implementation of, or otherwise support:

   1. (1) At least one carbon offset project on State land; and
   2. (2) At least one carbon offset project in a marine or estuarine habitat.

Added by Acts 2022, c. 237, § 1, eff. July 1, 2022; Acts 2022, c. 238, § 1, eff. July 1, 2022.