Washington SB5999 expands revenue generation and economic opportunities through natural climate solutions and ecosystem services.

Washington SB5999 authorizes the Department of Natural Resources to generate revenue by entering into contracts for ecosystem service projects on state lands and waters. These projects include carbon offset projects that provide benefits such as carbon sequestration, air and water filtration, and climate stabilization. The bill allows the department to sell ecosystem service credits, set minimum payments, and establish contracts lasting up to 125 years. Proceeds from these contracts must be deposited into the state treasury.

Washington SB5999 expands revenue generation and economic opportunities through natural climate solutions and ecosystem services.

Washington SB5999 authorizes the Department of Natural Resources to generate revenue by entering into contracts for ecosystem service projects on state lands and waters. These projects include carbon offset projects that provide benefits such as carbon sequestration, air and water filtration, and climate stabilization. The bill allows the department to sell ecosystem service credits, set minimum payments, and establish contracts lasting up to 125 years. Proceeds from these contracts must be deposited into the state treasury.