HF 1669

as introduced - 87th Legislature (2011 - 2012) Posted on 05/05/2011 09:52am

A bill for an act
relating to state lands; requiring purchase and reservation of wetland, wildlife,
and carbon sequestration credits; requiring disclosure; proposing coding for new
law in Minnesota Statutes, chapter 92.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [92.73] RESERVATION AND PURCHASE OF WETLAND,
WILDLIFE, AND CARBON SEQUESTRATION CREDITS.
new text end

new text begin (a) The state reserves for its own use all rights to wetland, wildlife, and carbon
sequestration credits or similar rights derived from all lands which now or hereafter may
belong to it. Every certificate of sale and instrument of conveyance issued for the sale
of land owned by the state, including lands offered for sale under sections 282.221 to
282.226, shall state that the sale or conveyance does not include any right, title, or interest
in or to any wetland, wildlife, or carbon sequestration credits or similar rights which may
be derived from the land and that these rights are reserved by the state for its own use.
new text end

new text begin (b) If available, the state shall purchase for its own use all rights to wetland, wildlife,
and carbon sequestration credits or similar rights when purchasing an interest in land. The
ownership of such rights, whether purchased by the state or retained by the owner, shall be
explicitly stated in any certificate of sale, easement agreement, or similar contract.
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2011, and applies to any
interest in land purchased or sold on or after that date.
new text end