Land use: mitigation lands: endowments.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Enrolled
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill extends existing rules about land mitigation endowments, which are funds used to offset environmental damage from development projects. Currently, these endowments are held by various entities, but a repeal date was set for January 1, 2027. This bill removes that repeal date, allowing the rules to remain in effect indefinitely. It also requires the Department of Fish and Wildlife to regularly publish a report on the status of these endowments, including details about their location, size, and compliance with reporting requirements.
Key provisions
- Extends the current rules for land mitigation endowments, removing a planned repeal date.
- Allows endowments to be held by a wider range of entities, including community foundations and congressionally chartered foundations.
- Requires the Department of Fish and Wildlife to post a summary table on its website detailing the status of these endowments.
- The summary table must include information such as the endowment holder's name, property location, acreage managed, and compliance with reporting requirements.
- Establishes a schedule for the Department of Fish and Wildlife to update the summary table (every five years).
- Specifies requirements for the endowment holder to demonstrate capacity for effective management and investment.
- Outlines conditions under which the endowment funds could revert to a local agency.
- Addresses the requirement for mitigation agreements to ensure long-term stewardship of the property.
Bill text
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Sponsors
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1 on record
Primary sponsor
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