Public Asset Ownership Amendments

Reporting and waiting period requirements now apply only to state entities instead of any person selling or exchanging an environmental commodity.

Added an explicit exemption for environmental commodities created from activities on school and institutional trust lands.

Added a new definition for 'state entity' to clarify which organizations are subject to the bill.

Refined the definition of 'environmental commodity' to require trading via a digital identification number and exclude water rights and regulated pollutants.

Changed state ownership rules from absolute ownership to proportional ownership based on the amount of state funds contributed to the commodity's creation.

Added a requirement for state entities to report the specific state funds used to create an environmental commodity.

Added a new provision stating that environmental commodities created or purchased by a state entity remain under the control of that entity.

Added new definitions for 'greenhouse gas' (carbon dioxide or methane) and clarified that 'environmental commodity' specifically represents greenhouse gas reductions or prevented emissions.

Narrowed the definition of 'state funds' to explicitly exclude tax incentives, permit-related financial benefits, and federal grants administered by state entities.

Changed formatting from plain text diff format to structured substitute bill format with line numbers and proper spacing for legislative review.

Updated Section 2 to clarify that the reporting requirement applies to activities on school and institutional trust lands, maintaining the existing exemption.