On January 29, 2018, Senator Jeanne Shaheen of New Hampshire introduced legislation that would, if passed, create financial incentives for commercial foresters to produce "measurable increases in carbon sequestration and storage beyond customary [forestry] practices."
The Forest Incentives Program Act of 2018 would reward reforestation of non-forested land "such as marginal crop or pasture land, windbreaks, shelterbelts, [and] stream buffers"; and reforestation of land damaged by "wildfire, pests, wind, or other stresses." The incentives for foresters who qualify would be (i) carbon sequestration contracts with a minimum term of 15 years, and (ii) conservation easement purchase agreements.
The bill also authorizes incentive payments for building owners who choose low-energy intensive construction materials, such as those "composed in whole or in part of biological products, including renewable agricultural and forestry materials . . . ."
The bill now goes to committee before consideration by the full Senate.