Alaska House follows Senate in passing bill authorizing sale of carbon credits from state land

The Alaska House of Representatives on Tuesday passed a bill that would allow the state to set up a system for using state land to sell carbon-offset credits. The House action amounted to final passage of the bill, which was approved the previous day by the state Senate.

The measure, Senate Bill 48, authorizes the Alaska Department of Natural Resources to lease out state land for up to 55 years for the purpose of preserving its powers to absorb atmospheric carbon.

The bill has been a high priority for Gov. Mike Dunleavy. The Republican governor responded immediately after the House vote with a brief message on Twitter: “Thank you to the House for passing SB 48! We are changing the conversation for Alaska concerning new revenue.”

A follow-up news release by the governor’s office said that once the bill is signed into law, the Alaska Department of Natural Resources will begin to develop regulations for the program, and that there will be a “robust public input process” as those rules are created.

“Today marks an exciting new chapter for natural resources in Alaska with the passage of Governor Mike Dunleavy’s carbon offset bill,” John Boyle, commissioner of ( article continues at Anchorage Daily News )