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Rural Forest Markets Act of 2021

12/30/2022, 5:47 PM

Summary of Bill HR 3790

Bill 117 HR 3790, also known as the Rural Forest Markets Act of 2021, aims to promote the sustainable management of forests in rural areas of the United States. The bill focuses on creating new economic opportunities for rural communities by encouraging the development of forest markets.

One key aspect of the bill is the establishment of a grant program to support the creation of new forest markets in rural areas. These markets would provide a platform for small-scale forest landowners to sell their products, such as timber, wood products, and non-timber forest products. By expanding market access for these landowners, the bill seeks to increase their income and incentivize sustainable forest management practices.

Additionally, the bill includes provisions to support the development of innovative technologies and practices for forest management. This includes funding for research and development projects that aim to improve forest health, reduce wildfire risk, and enhance the resilience of forest ecosystems. By investing in these technologies, the bill aims to help rural communities adapt to the challenges of climate change and other environmental threats. Overall, the Rural Forest Markets Act of 2021 is designed to support the economic development of rural communities through sustainable forest management practices. By creating new market opportunities and investing in innovative technologies, the bill seeks to strengthen the resilience of rural forests and promote the long-term health of these vital ecosystems.

Congressional Summary of HR 3790

Rural Forest Markets Act of 2021

This bill directs the Department of Agriculture (USDA) to establish the Rural Forest Market Investment Program to guarantee investments to finance certain projects that will enable rural private forest landowners to participate in an innovative market for forest carbon or other products.

In establishing the program, USDA must consider ways to ensure that the program minimizes disruptions to traditional forest products markets.

Eligible projects are projects developed by a private entity or a publicly supported, charitable nonprofit organization engaged in the aggregation of sustainable forestry practices implemented by rural private forest landowners to facilitate the sale of credits in the voluntary carbon market or other environmental market using a methodology approved by a credible, third-party entity.

USDA may guarantee up to $150 million with respect to each investment.

Authority to carry out the program terminates on September 30, 2023.

Read the Full Bill

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Current Status of Bill HR 3790

Bill HR 3790 is currently in the status of Bill Introduced since June 8, 2021. Bill HR 3790 was introduced during Congress 117 and was introduced to the House on June 8, 2021.  Bill HR 3790's most recent activity was Referred to the Subcommittee on Conservation and Forestry. as of July 15, 2021

Bipartisan Support of Bill HR 3790

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
14
Democrat Cosponsors
10
Republican Cosponsors
4
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 3790

Primary Policy Focus

Agriculture and Food

Alternate Title(s) of Bill HR 3790

Rural Forest Markets Act of 2021
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.
Rural Forest Markets Act of 2021

Comments

Sponsors and Cosponsors of HR 3790

Chellie Pingree
Chellie Pingree
MaineDemocrat
William R. Timmons IV
William R. Timmons IV
South CarolinaRepublican
Abigail Davis Spanberger
Abigail Davis Spanberger
VirginiaDemocrat
Elise M. Stefanik
Elise M. Stefanik
New YorkRepublican
Lucy McBath
Lucy McBath
GeorgiaDemocrat

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