1.1                          A bill for an act 
  1.2             relating to wetlands; requiring studies on 
  1.3             compensation and replacement credits. 
  1.4   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.5      Section 1.  [WETLANDS STUDIES.] 
  1.6      Subdivision 1.  [COMPENSATION.] The wetland heritage 
  1.7   advisory committee, in consultation with the attorney general 
  1.8   and representatives of property rights groups, shall study the 
  1.9   issue of compensation to landowners for costs, including reduced 
  1.10  property values, resulting from regulation under state law of 
  1.11  draining and filling of wetlands.  The board of water and soil 
  1.12  resources shall provide staff support for the study and shall 
  1.13  report on the study by November 1, 1996, to the chairs of the 
  1.14  senate committees on agriculture and rural development and 
  1.15  environment and natural resources; the finance division of the 
  1.16  senate committee on environment and natural resources; and the 
  1.17  house of representatives committees on environment and natural 
  1.18  resources, agriculture, and environment and natural resources 
  1.19  finance.  The report must include: 
  1.20     (1) an analysis of the strengths and weaknesses of the 
  1.21  existing legal framework under which compensation may be 
  1.22  obtained; 
  1.23     (2) recommendations for legislation; and 
  1.24     (3) a fiscal analysis of the recommended legislation. 
  2.1      Subd. 2.  [REPLACEMENT CREDITS.] The wetland heritage 
  2.2   advisory committee shall study whether and to what extent 
  2.3   wetland replacement credit should be available for wetland 
  2.4   creation, restoration, and enhancement activities that do not 
  2.5   qualify for credit under Minnesota Statutes, section 103G.2242, 
  2.6   subdivision 12, because they were not specifically designated 
  2.7   for replacement.  The board of water and soil resources shall 
  2.8   provide staff support for the study and shall submit a report on 
  2.9   the study, including any recommendations for legislation, by 
  2.10  November 1, 1996, to the chairs of the senate committees on 
  2.11  agriculture and rural development and environment and natural 
  2.12  resources; the finance division of the senate committee on 
  2.13  environment and natural resources; and the house of 
  2.14  representatives committees on environment and natural resources, 
  2.15  agriculture, and environment and natural resources finance.