Wis. Stat. § 16.9685 — WI Code / Chapter 16 / Section 16.9685
Section 16.9685
Status: in_force

(h) Establish and maintain a centralized registry of all credits generated and sold in this state and of the verification of all such credits that have been incorporated into permits under ch. 283 . The clearinghouse shall maintain an Internet-based platform to facilitate the location of potential credit buyers, available credits, and any other information that will facilitate credit transactions. The clearinghouse shall report this and other pertinent trading information annually to the department and to the department of natural resources. The clearinghouse shall enter into a data-sharing agreement with the department of natural resources to facilitate the clearinghouse’s ability to collect and make publicly available pertinent information relating to water quality improvement programs administered in this state.

(4) No later than 45 days after reviewing the information provided under sub. (3) (g) and (h) , the department of natural resources shall certify the amount of credits and the duration of the credits available for sale.

(5) The clearinghouse with which the department enters into a contract under sub. (2) may do any of the following:

(a) Charge fees and use funds received for general program operations of the clearinghouse, including costs associated with facilitating transactions, purchasing credits, and repayment of funds granted or loaned to the clearinghouse.

(b) Hold excess funds in trust for the purpose of making grants, in collaboration with county land conservation offices, the department of natural resources, or the department of agriculture, trade and consumer protection, for targeted water pollution prevention, water pollution remediation, and other environmental enhancement projects that improve the water quality of this state.

(c) Establish a reserve pool of credits produced under sub. (3) (a) and maintain the reserve credit pool for the purpose of maintaining a risk management mechanism under sub. (2) (b) .

(d) Conduct research on other innovative approaches to environmental improvement.

(6) Upon the recommendation of the department of natural resources, the department may contract with the clearinghouse under sub. (2) to further the implementation of any adaptive management, water quality trading, or future market-based water quality programs in effect in this state.

(7) The term of a contract entered into under sub. (2) shall be 5 years. The department may terminate a contract entered into under sub. (2) if the clearinghouse fails to meet any of the requirements under this section or rules promulgated under s. 283.84 . The department shall give the clearinghouse at least 120 days’ notice of the default and a right to cure before terminating a contract under this subsection.

(8) If the contract with the clearinghouse is terminated or the clearinghouse ceases to function, the department of natural resources shall continue to administer all credit transactions then in effect until a new clearinghouse contract is established or until the terms of the individual parties’ contracts expire.

(9) Before the end of the 4th year of any contract entered into under sub. (2) , the department of natural resources shall evaluate the clearinghouse and shall report its evaluation to the department.

History: 2019 a. 151 .