Establishing Forest Carbon Registry
What changed between versions
Added 'forest' prefix to 'carbon offset agreement' and 'carbon offset project' definitions for clarity.
Added new definition for 'Developer' as a third-party entity that designs and manages forest carbon projects.
Changed recording responsibility from purchasers to developers for agreements involving third parties.
Added requirement for filing a memorandum describing existing forest carbon offset agreements by July 1, 2027.
Added requirement to include tax map and lot number references in registry records.
Changed penalty assessment timeline from 'each 30-day period' to a single '30th day' following the initial deadline.
Modified penalty structure to include graduated civil penalties ($2,500 for first offense, $5,000 for second) rather than immediate suspension for subsequent offenses.