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MITIGATION BANKS
CS/HB 1175 by Rep. Wyman Duggan passed by a vote of 17-6 in House State Affairs, advancing through the second and last of its assigned committees. This bill allows for mitigation to occur outside of a projects watershed basin, and for unfinished mitigation banks to award up to 60% of their credits before the ecosystem function has been certified.
This leaves certain areas overdeveloped without all of the protections provided by wetlands. It also creates an uneven balance of destroying wetlands before the ecosystem function or the mitigation bank has been completed. This bill is counter to the foundational concept of mitigation credits.
Citing the 9 million acres of wetlands lost across the state of Florida, an amendment was presented to increase the multiplier of credits required when purchased out of area, requiring more wetlands be created than the ones that were destroyed. The amendment was rejected by the bill sponsor, who went on to say that any changes to the bill would not work because he has diligently negotiated the components of the bill with developers and the mitigation bankers — leaving public interest out of the equation.
The comparable Senate version, SB 492, has passed its first committee and was referred to the Appropriation Committee on Agriculture, Environment and General Government for its second stop.
SCCF opposes this bill as bad environmental policy that creates an imbalance of protections and incentivizes unsustainable overdevelopment.
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