1. A. This act shall be known and may be cited as the "Oklahoma Carbon Sequestration Enhancement Act".

2. B. The Oklahoma Legislature finds that:

   1. 1. Increasing levels of carbon dioxide in the atmosphere have led to growing interest in national and international forums for implementing measures to slow and reverse the buildup of such atmospheric constituents. These measures may include, but are not limited to, the establishment of systems of trading in carbon dioxide credits or adoption of practices, technologies, or other measures which decrease the concentration of carbon dioxide in the atmosphere;
   2. 2. Improved agricultural practices, soil and vegetation including trees, conservation practices, revegetation including reforestation activities and other methods of stewardship of soil and vegetation resources throughout the state have great potential to increase carbon sequestration and help offset the impact of carbon dioxide emissions on carbon dioxide concentrations in the atmosphere; and
   3. 3. It is in the interest of the public that the Oklahoma Conservation Commission document and quantify carbon sequestration associated with improved agricultural practices, soil and vegetation including trees, conservation practices, revegetation including reforestation activities, and other methods of stewardship of soil and vegetation resources, rangeland, and other agricultural and nonagricultural lands occurring on cropland in this state.
3. C. It is the intent of the Legislature that such efforts to document and quantify carbon sequestration on agricultural and nonagricultural lands within the state will enhance the ability of the state's landowners to participate in any system of carbon dioxide emissions marketing or trading that may be developed in the future.

Laws 2001, HB 1192, c. 81, § 1, emerg. eff. April 16, 2001.