16 U.S.C. § 3957 | Environmental banks

(a)

Guidelines

December 16, 2016Not later than 1 year after , the Task Force shall, after public notice and opportunity for comment, issue guidelines for the use, maintenance, and oversight of environmental banks in Louisiana.

(b)

Requirements

The guidelines issued pursuant to subsection (a) shall—

(1)

set forth procedures for establishment and approval of environmental banks subject to the approval of the heads of the appropriate Federal agencies responsible for implementation of Federal environmental laws for which mitigation credits may be used;

(2)

establish criteria for siting of environmental banks that enhance the resilience of coastal resources to inundation and coastal erosion in high priority areas, as identified within Federal or State restoration plans, including the restoration of resources within the scope of a project authorized for construction;

(3)

establish criteria that ensure environmental banks secure adequate financial assurances and legally enforceable protection for the land or resources that generate the credits from environmental banks;

(4)

33 U.S.C. 13421

1 See References in Text note below.

16 U.S.C. 1531 stipulate that credits from environmental banks may not be used for mitigation of impacts required under section 404 of the Federal Water Pollution Control Act ()  or the Endangered Species Act ( et seq.) in an area where an existing mitigation bank approved pursuant to such laws within 5 years of enactment of the Water Resources Development Act of 2016 has credits available;

(5)

establish performance criteria for environmental banks; and

(6)

establish criteria and financial assurance for the operation and monitoring of environmental banks.

(c)

Environmental bank

(1)

Definition of environmental bank

In this section, the term “environmental bank” means a project, project increment, or projects for purposes of restoring, creating, or enhancing natural resources at a designated site to establish mitigation credits.

(2)

Credits

Mitigation credits created from environmental banks approved pursuant to this section may be used to satisfy existing liability under Federal environmental laws.

(d)

Savings clause

(1)

Application of Federal law

Guidelines developed under this section and mitigation carried out through an environmental bank established pursuant to such guidelines shall comply with all applicable requirements of Federal law (including regulations), including—

(A)

33 U.S.C. 1251 the Federal Water Pollution Control Act ( et seq.);

(B)

16 U.S.C. 1531 the Endangered Species Act ( et seq.);

(C)

33 U.S.C. 2701 the Oil Pollution Act of 1990 ( et seq.);

(D)

42 U.S.C. 4321 the National Environmental Policy Act of 1969 ( et seq.); and

(E)

section 2283 of title 33 .

(2)

Statutory construction

Nothing in this section may be construed to affect—

(A)

December 16, 2016 any authority, regulatory determination, or legal obligation in effect the day before ; or

(B)

the obligations or requirements of any Federal environmental law.

(e)

Sunset

December 16, 2016No new environmental bank may be created or approved pursuant to this section after the date that is 14 years after .

Pub. L. 101–646, title III, § 309 Pub. L. 114–322, title IV, § 5014Dec. 16, 2016130 Stat. 1903 Pub. L. 117–263, div. H, title LXXXI, § 8382(c)Dec. 23, 2022136 Stat. 3828 Pub. L. 118–272, div. A, title III, § 1303(c)Jan. 4, 2025138 Stat. 3114 (, as added , , ; amended , , ; , , .)

Editorial Notes

References in Text

act June 30, 1948, ch. 758 section 1344 of Title 33 Section 1342 of Title 33Section 404 of the Federal Water Pollution Control Act, referred to in subsec. (b)(4), is section 404 of , which is classified to , Navigation and Navigable Waters. is section 402 of the Act.

Pub. L. 93–205Dec. 28, 197387 Stat. 884 section 1531 of this titleThe Endangered Species Act, referred to in subsecs. (b)(4) and (d)(1)(B), probably means the Endangered Species Act of 1973, , , , which is classified principally to chapter 35 (§ 1531 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Pub. L. 114–322Dec. 16, 2016Enactment of the Water Resources Development Act of 2016, referred to in subsec. (b)(4), means the enactment of title I of , which was approved .

act June 30, 1948, ch. 758 Pub. L. 92–500, § 2Oct. 18, 197286 Stat. 816 section 1251 of Title 33The Federal Water Pollution Control Act, referred to in subsec. (d)(1)(A), is , as amended generally by , , , which is classified generally to chapter 26 (§ 1251 et seq.) of Title 33, Navigation and Navigable Waters. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Pub. L. 101–380Aug. 18, 1990104 Stat. 484 section 2701 of Title 33The Oil Pollution Act of 1990, referred to in subsec. (d)(1)(C), is , , , which is classified principally to chapter 40 (§ 2701 et seq.) of Title 33, Navigation and Navigable Waters. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Pub. L. 91–190Jan. 1, 197083 Stat. 852 section 4321 of Title 42The National Environmental Policy Act of 1969, referred to in subsec. (d)(1)(D), is , , , which is classified generally to chapter 55 (§ 4321 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Amendments

Pub. L. 118–2722025—Subsec. (e). substituted “14” for “12”.

Pub. L. 117–2632022—Subsec. (e). substituted “12” for “10”.