Expanding revenue generation and economic opportunities from natural climate solutions and ecosystem services.

HB 1508 allows Washington State to generate new revenue by selling ecosystem service credits - like those for carbon sequestration or water filtration - from public lands. The Department of Natural Resources can contract with brokers or developers to sell these credits, but projects must be limited to afforestation, reforestation, or aquatic efforts and align with existing forest management policies. Revenue from these contracts must be deposited into state accounts, and the department must report project details and challenges by December 2026. The bill expires June 30, 2027, and explicitly prohibits projects from limiting tribal rights or conflicting with ongoing forest health efforts.