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Forest Incentives: Payments for Carbon Storage and Green Building Materials.

This Act establishes financial incentive programs for private forest owners who commit to long-term contracts to increase carbon storage on their land. Additionally, owners of commercial and government buildings can receive payments for using biobased materials (like wood) to reduce the structural carbon footprint. The goal is to combat climate change and support local forestry jobs.
Key points
Private forest landowners can receive payments for 15- to 30-year contracts to manage land specifically to maximize carbon sequestration.
Financial incentives are introduced for commercial and public construction that uses biobased materials (e.g., wood) to achieve at least a 20% reduction in the building's lifecycle carbon emissions.
The programs prioritize supporting projects that create new forestry jobs and protect natural habitats.
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Additional Information
Print number: 118_S_1366
Sponsor: Sen. Shaheen, Jeanne [D-NH]
Process start date: 2023-04-27
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Forest Incentives Program Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1366.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-04-27.

What are the main provisions?

Key points include:

  • Private forest landowners can receive payments for 15- to 30-year contracts to manage land specifically to maximize carbon sequestration.
  • Financial incentives are introduced for commercial and public construction that uses biobased materials (e.g., wood) to achieve at least a 20% reduction in the building's lifecycle carbon emissions.
  • The programs prioritize supporting projects that create new forestry jobs and protect natural habitats.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Shaheen, Jeanne [D-NH].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Agriculture Environment Economy