Sec. 201. Forest management from carbon credits
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In this section: The term carbon credit means a carbon or greenhouse gas credit, offset, or other defined unit— approved by a credible, third-party entity; and as determined by the Secretary. The term carbon credit program means a voluntary program or market that issues, assigns, trades, or sells carbon credits. The term covered activity means an improved forest management activity, including a hazardous fuel treatment, mechanical thinning, or timber harvesting project, that is— ecologically appropriate; carried out on National Forest System land; designed— to increase rates of carbon sequestration; to increase long-term carbon storage in durable wood products; or to mitigate or avoid carbon emissions; carried out by— the Secretary; or a non-Federal entity under any existing authority available to the Secretary; and not in competition with or adverse to the issuance, assignment, trading, or selling of forest carbon in the private sector.
The term National Forest System does not include— the national grasslands and land utilization projects administered under title III of the Bankhead-Jones Farm Tenant Act ( 7 U.S.C. 1010 et seq. ); or National Forest System land east of the 100th meridian. The term Secretary means the Secretary of Agriculture, acting through the Chief of the Forest Service. The Secretary may use to support the implementation of covered activities, without further appropriation or fiscal year limitation, funds received from a non-Federal entity— through a carbon credit program; or for a carbon credit generated from National Forest System land.
Amounts made available under paragraph
(1)shall supplement, and not supplant, any other amounts made available for covered activities. The National Forest Foundation shall receive and distribute any funds received under subsection (b)(1). The National Forest Foundation may work with other entities that use funds received through a carbon credit program or for a carbon credit generated from National Forest System land to design, manage, account for, or implement a covered activity. For the management of transactions described in this section, the National Forest Foundation, in collaboration with the Secretary, shall develop and use a methodology that calculates the predicted increase in carbon sequestration or in the longevity of long-term carbon storage for a project or the avoided release of carbon due to reduction of the risk of high-severity fire and other disturbances, by considering— retention of forest cover; carbon sequestration rates before and after the implementation of a covered activity; reduction in the risk of tree mortality; restoration of historic fire regimes; and the long-term storage of carbon in long-lasting wood products. The Secretary, in collaboration with the National Forest Foundation, shall annually submit to Congress a report describing the status of the program under this section, including— the extent to which additional covered activities that were implemented with funding received under subsection (b)(1) have been carried out; and any recommendations to improve or expand the program, including expansion of the authorities under this section to land managed by the Secretary of the Interior. Nothing in this section authorizes any activity that is inconsistent with— any applicable forest plan; or any other provision of law (including regulations).
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Sec. 201
Forest management from carbon credits
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