A new New Hampshire law will investigate the impact of carbon offset sites on timber tax revenue

By Kate Dario
The Concord Monitor
July 29, 2024
Category: Carbon, Climate & Bioenergy
Region: United States, US East

While carbon offset offerings have grown increasingly popular, few of us have actually considered where all this offset carbon is being stored. But in New Hampshire, it may be just outside your window. …But many local political and forestry leaders, especially in the North Country, are skeptical of these programs because of how they might limit timber production and disrupt forest-centered tourism. Last week, Gov. Chris Sununu signed the state’s first law pertaining to these programs,which will fund a Department of Revenue Administration study on the potential lost timber tax revenue and require the Division of Forestry to create a registry of all carbon offset sites in the state. …The 2022 purchase of the Connecticut Lakes Headwater Working Forest by a North Carolina-based carbon offset company has stirred controversy because it has already curbed logging. …The study will evaluate if a new tax should be placed on carbon offset sites to replace the timber tax.

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