La. Admin. Code tit. 43 § XXXI-109

Current through Register Vol. 50, No. 11, November 20, 2024

Section XXXI-109 - Natural Resource Damage Banking Review Team (BRT)

A. CPRA shall convene the BRT to implement the NRD Restoration Banking Program. The state trustees, or their designees, shall be standing members of the BRT. CPRA shall serve as the BRT chair The BRT may consult with or invite other state and federal agencies (including federal NRDA trustees) as appropriate for review and certification of specific NRD restoration banks. The primary duties of the BRT are:

1. to review documents submitted by potential restoration bank sponsors, including the prospectus, restoration bank plan, restoration banking instrument, and other appropriate/requested documents to determine whether proposed NRD restoration banks qualify for the NRD Restoration Banking Program;

2. to work with potential restoration bank sponsors on the development of restoration credits (including establishing the number and types of credits an NRD restoration bank will generate and a credit release schedule), appropriate financial assurances, and required project monitoring and long-term management activities (if such long-term management activities are appropriate for the bank);

3. to seek public review and comment on the restoration bank plan;

4. to certify NRD restoration banks;

5. to review construction, monitoring, and other required reports to determine if corrective actions or adaptive management activities are necessary and to approve the release of credits for an NRD restoration bank; and

6. to ensure compliance with the terms and conditions of NRD restoration bank certification as set forth in the restoration banking instrument.

La. Admin. Code tit. 43, § XXXI-109

Promulgated by the Office of the Governor, Coastal Protection and Restoration Authority, LR 431355 (7/1/2017).

AUTHORITY NOTE: Promulgated in accordance with R.S. 49:214.5.2.