2023-05-13                     Senate Journal                      Page 1139
SB 48                                                                                                                         
SENATE BILL NO. 48 "An Act authorizing the Department of                                                                        
Natural Resources to lease land for carbon management purposes;                                                                 
establishing a carbon offset program for state land; authorizing the sale                                                       
of carbon offset credits; and providing for an effective date" was read                                                         
the second time.                                                                                                                
                                                                                                                                
Senator Olson, Cochair, moved and asked unanimous consent for the                                                               
adoption of the Finance Committee Substitute offered today. Without                                                             
objection, CS FOR SENATE BILL NO. 48(FIN) "An Act relating to                                                                   
the powers and duties of the Alaska Oil and Gas Conservation                                                                    
Commission; authorizing the Department of Natural Resources to                                                                  
lease land for carbon management purposes; establishing a carbon                                                                
offset program for state land; authorizing the sale of carbon offset                                                            
credits; authorizing the use of land and water within the Haines State                                                          
Forest Resource Management Area for a carbon offset project;                                                                    
authorizing the undertaking of carbon offset projects on land in                                                                
legislatively designated state forests; relating to oil and gas lease                                                           
expenditures; and providing for an effective date" was adopted.                                                                 
                                                                                                                                

2023-05-13                     Senate Journal                      Page 1140
President Stevens stated CS FOR SENATE BILL NO. 48(FIN) will                                                                    
advance to third reading on the May 14 calendar.