II 

116TH CONGRESS 

2D SESSION S. 4451 

To authorize the Secretary of Agriculture to guarantee investments that 

will open new markets for forest owners in rural areas of the United 

States, and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

AUGUST 5, 2020 

Ms. STABENOW (for herself and Mr. BRAUN) introduced the following bill; 

which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry 

A BILL 

To authorize the Secretary of Agriculture to guarantee investments that will open new markets for forest owners 

in rural areas of the United States, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Rural Forest Markets 

5 Act of 2020’’. 

6 SEC. 2. RURAL FOREST MARKET INVESTMENT PROGRAM. 

7 (a) DEFINITIONS.—In this section: 


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1 (1) RURAL.—The term ‘‘rural’’ has the mean2 ing given the term in section 343 of the Consoli3 dated Farm and Rural Development Act (7 U.S.C. 

4 1991). 

5 (2) SECRETARY.—The term ‘‘Secretary’’ means 

6 the Secretary of Agriculture. 

7 (b) ESTABLISHMENT OF PROGRAM.— 

8 (1) IN GENERAL.—The Secretary shall establish 

9 a program, to be known as the ‘‘Rural Forest Mar10 ket Investment Program’’, to guarantee an environ11 mental impact bond, loan, or other investment vehi12 cle, as determined by the Secretary, issued for the 

13 sole purpose of financing eligible projects described 

14 in subsection (c), to enable rural private forest land15 owners to participate in an innovative market for 

16 forest carbon or other products. 

17 (2) CONSIDERATION.—In establishing the pro18 gram under paragraph (1), the Secretary may con19 sider ways to ensure that the program minimizes, to 

20 the extent practicable, disruptions to traditional for21 est products markets. 

22 (c) ELIGIBLE PROJECTS.—An eligible project re23 ferred to in subsection (b)(1) is a project developed by pri24 vate entity, or a publicly supported, charitable nonprofit 

25 organization, engaged in the aggregation of sustainable 


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1 forestry practices implemented by rural private forest 

2 landowners to facilitate the sale of credits in the voluntary 

3 carbon market or other environmental market, using a 

4 methodology approved by a credible, third-party entity, as 

5 determined by the Secretary. 

6 (d) REQUIREMENTS.—A project described in sub7 section (c) that includes the practice of tree planting may 

8 only be carried out, as determined by the Secretary— 

9 (1) on land that was historically forested; 

10 (2) using tree species that are native to the re11 gion and at ecologically appropriate densities; and 

12 (3) in a manner that does not create other neg13 ative impacts to biodiversity or the environment. 

14 (e) GUARANTEE AMOUNT.—The Secretary may guar15 antee not more than $150,000,000 with respect to each 

16 bond, loan, or other investment vehicle under subsection 

17 (b)(1). 

18 (f) REGULATIONS.—Not later than 30 days after the 

19 date of enactment of this Act, the Secretary shall issue 

20 regulations to implement the program established under 

21 subsection (b)(1). 

22 (g) TERMINATION OF AUTHORITY.—The authority 

23 provided by this section terminates on September 30, 

24 2023. 

Æ 


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