HB 535 AN ACT relating to stream and wetland mitigation and making an appropriation therefor

About HB-535

Create new sections of KRS chapter 150 to define "compensatory mitigation," "compensatory mitigation project," "compensatory mitigation site," "DA permit," "mitigation credit," " in-lieu fee program," "in-lieu fee program instrument," "mitigation bank," "mitigation credit," "service area," and "mitigation liability"; re-establish the Kentucky Wetland and Stream Mitigation Fund in a newly created section; require funds representing an unsatisfied liability under the 2008 Mitigation Rule issued by the Department of Army to be put out for contract under KRS Chapter 45A; require the Department of Fish and Wildlife Resources to make a report to the LRC that describes the in-lieu fee program and unsatisfied liabilities in service areas by December 1 of each year; allow the state to hold a permanent easement in lands acquired by it or proposed to it by a mitigation bank; require entities to have financial surety; amend KRS 150.255 to specify how governmental and nongovernmental agencies satisfy compensatory mitigation; stipulate that when the unsatisfied mitigation liability reaches 2 million dollars the in-lieu fee program shall purchase credits or issue an RFP for a commodity purchase; specify the procurement for full-delivery and the actions for mitigation on the site under the full-delivery approach; allow for compensatory mitigation to be a capitol construction project with the Commonwealth holding a conservation easement or some other environmental covenant or restriction; identify requirements for responsive bidders; APPROPRIATION.