SB 723 - This act requires that natural resource damages authorized to be recovered under any state or federal law by the state natural resources trustee shall be offset against a potentially responsible party by crediting the party for the past, current, and future value of any economic and ecological benefits from any land or other property donated to the state by the party. The calculation of economic and ecological benefits is set forth in this act. This act allows the potentially responsible party or any other interested party to submit to the state natural resources trustee an economic impact report estimating such benefits. Additionally, under this act once a potentially responsible party is credited for such benefits, they shall not be credited for the same benefits in any other assessment of natural resource damages unless their credit exceeds the amount of damages assessed. In that case, they may carry forward the credit to offset additional natural resource damages until such benefits no longer exceed the amount of natural resource damages assessed. This act bans the state trustee from transferring any authority to assess or recover damages to any federal or other trustee.
This act is identical to SB 413 (2015).