Conservation and mitigation bank: marine artificial reefs.

Existing law defines "conservation bank" and "mitigation bank" for these purposes.

This bill would expand the definition of "conservation bank" and "mitigation bank" to include marine artificial reefs. The bill would authorize a person to, after completion of a full environmental review in compliance with applicable California and federal laws and regulations, create a marine artificial reef for purposes of establishing a mitigation or conservation bank. The bill would clarify that both nonprofit and for-profit organizations are authorized to establish and operate a conservation bank, mitigation bank, or conservation and mitigation bank. The bill would provide that if a marine artificial reef is located on state sovereign land then a lease is required from the State Lands Commission, as provided. The bill would provide that the lease from the commission would satisfy the requirements for a bank enabling instrument and for the department to grant a conservation easement.