SB739 SFA Tarr #3 3-1
Childs 7949
Senator Tarr moved to amend the bill by striking out everything after the enacting clause and inserting in lieu thereof the following:
(a) The Legislature hereby finds that there currently exist insufficient and inadequate measures to protect West Virginia citizens from substantial economic harm resulting from agreements being actively sought by entities seeking to alienate resources and real property in this state to benefit from deferrals, reductions, or limitations on the harvesting of timber for carbon offsets, carbon tax credits, and similar benefits with rapidly evolving economic effects.
(b) The Legislature further finds that a moratorium on entering into any contract or other agreement selling, leasing, letting, or otherwise transferring property rights relating to agreements described in paragraph (a) for the limited period of 60 days will allow the Legislature to deliberate and pass laws as may be determined to be necessary to prevent or mitigate substantial economic harm to West Virginia citizens.
For a period of 60 days from the effective date of the legislation passed during the regular session of the Legislature, 2023, establishing this article, it shall be unlawful and prohibited for any contract or agreement to be entered into which includes any provision for the deferral, reduction, or limitation on the harvesting of timber, or otherwise transferring any property rights relating to the harvesting of timber, for property situate in this state relating to the biological means of carbon storage, carbon capture, carbon sequestration, or similar methods of offset for economic or other gain. Any contract or agreement entered into in violation of this article shall be considered null and void.
Adopted
Rejected