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HOUSE 3790117th CongressReferred to the Subcommittee on Conservation and Forestry.

Rural Forest Markets Act of 2021

Last Action
7/15/2021

Actions

  • 2021-07-15Referred to the Subcommittee on Conservation and Forestry.
  • 2021-06-08Referred to the House Committee on Agriculture.
  • 2021-06-08Introduced in House
  • 2021-06-08Introduced in House

CRS Summary

As of 2021-06-08 (00)

Rural Forest Markets Act of 2021

This bill directs the Department of Agriculture (USDA) to establish the Rural Forest Market Investment Program to guarantee investments to finance certain projects that will enable rural private forest landowners to participate in an innovative market for forest carbon or other products.

In establishing the program, USDA must consider ways to ensure that the program minimizes disruptions to traditional forest products markets.

Eligible projects are projects developed by a private entity or a publicly supported, charitable nonprofit organization engaged in the aggregation of sustainable forestry practices implemented by rural private forest landowners to facilitate the sale of credits in the voluntary carbon market or other environmental market using a methodology approved by a credible, third-party entity.

USDA may guarantee up to $150 million with respect to each investment.

Authority to carry out the program terminates on September 30, 2023.

Cosponsors (7)

  • Elise Stefanik (R-NY)
  • Kurt Schrader (D-OR)
  • Ann Kuster (D-NH)
  • William Timmons (R-SC)
  • Antonio Delgado (D-NY)
  • Lucy McBath (D-GA)
  • Abigail Spanberger (D-VA)

Subjects

  • Air quality
  • Climate change and greenhouse gases
  • Ecology
  • Environmental assessment, monitoring, research
  • Financial services and investments
  • Forests, forestry, trees
  • Government lending and loan guarantees
  • Rural conditions and development
  • Securities
  • Social work, volunteer service, charitable organizations
Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.