Environmental protection: air pollution; regulation of carbon sequestration; provide for. Amends sec. 1301 of 1994 PA 451 (MCL 324.1301) & adds subch. 6 to ch. 3, art. III. TIE BAR WITH: SB 1132'24, SB 1133'24

This bill amends Michigan's Natural Resources and Environmental Protection Act to allow the state Department of Natural Resources to manage carbon sequestration on public lands. It authorizes the department to enter into contracts for capturing, disposing of, or storing carbon dioxide and other gases on state-owned land, provided specific state agencies give consent and the state administrative board approves the agreement. The legislation also permits the department to sell third-party verified carbon offset credits generated from these public lands if the sales support continued land management. Additionally, the bill establishes how revenue from these carbon storage contracts and credit sales will be distributed to various state funds, including the general fund and specific conservation accounts.