Environmental banks

Not later than 1 year after December 16, 2016, the Task Force shall, after public notice and opportunity for comment, issue guidelines for the use, maintenance, and oversight of environmental banks in Louisiana. The guidelines issued pursuant to subsection (a) shall— 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. Mitigation credits created from environmental banks approved pursuant to this section may be used to satisfy existing liability under Federal environmental laws. 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— Nothing in this section may be construed to affect— No new environmental bank may be created or approved pursuant to this section after the date that is 14 years after December 16, 2016.