Nutrient and sediment credit generation and transfer; limits certain transfers to private sector.

Nutrient credit use; land-disturbing activity by wastewater utility. Provides that when a publicly owned wastewater treatment works conducts land-disturbing activities in order to construct or expand a facility, it may comply with the water quality requirements associated with such land-disturbing activities by generating and using point source nutrient credits, point source phosphorus credits, and sediment credits through the operation of its existing treatment facilities. The bill requires the treatment works to notify the Department of Environmental Quality of its plan, to adopt a ratio of 10 point source nitrogen credits for each point source phosphorus credit used, and to classify the credits as permanent using a means acceptable to the Department. The bill limits to 10 pounds per year the application of point source phosphorus credits to a single project other than a water reclamation and reuse project.