,i  #aah? ,,congress  #a/ ,session  ,h4 
,r4 #ecae  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,augu/ #bi1 #bjbc,ms4 
,p+ree 7= h]self & ,mr4 ,timmons7       
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,agriculture  ,a ,,bill
  ,to au?orize ! ,secret>y (            
,agriculture to gu>antee inve/m5ts t w  
op5 new m>kets = =e/ own]s 9 rural areas
 ( ! ,unit$ ,/ates1 & = o!r purposes4   
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,rural ,=e/ ,m>kets ,act ( #bjbc4  #b4
 ,rural ,=e/ ,m>ket ,inve/m5t ,program  
7a7 ,def9itions ,9 ?is section3 7#a7    
,program ,! t]m program means ! ,rural  
,=e/ ,m>ket ,inve/m5t ,program e/abli%$ 
"u subsection 7b77#a74  7#b7 ,rural ,!  
t]m rural has ! mean+ giv5 ! t]m 9      
section #cdc7;a7 ( ! ,consolidat$ ,f>m &
 ,rural ,developm5t ,act 7#g ,u4,s4,c4  
#aiia7;a774  7#c7 ,secret>y ,! t]m      
,secret>y means ! ,secret>y (           
,agriculture4  7#d7 ,volunt>y           
environm5tal cr$it m>ket ,! t]m volunt>y
 environm5tal cr$it m>ket means a       

volunt>y m>ket ?r\gh :i* environm5tal   
cr$its may be b\ght or sold4  7b7       
,e/abli%m5t ( program  7#a7 ,9 g5]al ,! 
,secret>y %all e/abli% a program1 to be 
kn[n z ! ,rural ,=e/ ,m>ket ,inve/m5t   
,program1 to gu>antee environm5tal      
impact bonds1 loans1 or o!r inve/m5t    
vehicles1 z det]m9$ by ! ,secret>y1     
issu$ = ! sole purpose ( f9anc+ eligible
 projects describ$ 9 subsection 7c71 to 
enable rural private =e/ l&[n]s to      
p>ticipate 9 volunt>y environm5tal cr$it
 m>kets4  7#b7 ,adm9i/ration  7,a7 ,loan
 gu>antees ,! ,secret>y %all make       
available & adm9i/] gu>antees on        
environm5tal impact bonds1 loans1 or o!r
 inve/m5t vehicles1 z det]m9$ by !      
,secret>y1 ?r\gh ! facilities &         
au?orities ( ! ,"u ,secret>y = ,rural   
,developm5t4  7,b7 ,=e/ry relat$ matt]s 
7i7 ,9 g5]al ,! ,secret>y %all c>ry out 
?r\gh ! facilities & au?orities ( ! ,"u 
,secret>y = ,natural ,res\rces &        
,environm5t ! requirem5ts & adm9i/ration
 "u ?is section ( matt]s relat+ to =e/s1

 =e/ry1 tree plant+ activities1 =e/     
product m>kets1 ! timb] supply1         
appropriate activities to develop & c>ry
 out an eligible project1 & activities  
to facilitate ! p>ticipation ( an       
eligible project or rural private =e/   
l&[n] 9 volunt>y environm5tal cr$it     
m>kets1 & z o!rwise provid$ 9 ?is       
section1 z det]m9$ appropriate by !     
,secret>y4  7ii7 ,collaboration ,! ,"u  
,secret>y = ,natural ,res\rces &        
,environm5t %all provide :atev]         
in=mation may be necess>y & appropriate 
to ! ,"u ,secret>y = ,rural ,developm5t 
to ensure t ! mak+ & adm9i/ration (     
gu>antees "u ?is section is fully in=m$ 
by ! matt]s describ$ 9 clause 7i7 & z   
o!rwise provid$ 9 ?is section1 z det]m9$
 appropriate by ! ,secret>y4  7#c7      
,consid]ation ,9 e/abli%+ ! program1 !  
,secret>y %all consid] ways to ensure t 
! program-- 7,a7 m9imizes disruptions to
 traditional =e/ products m>kets1       
includ+ by-- 7i7 collect+ data on       
comm]cially available timb] t s]ves wood

 process+ facilities1 includ+-- 7,i7 !  
quantity & species ( timb] supply       
available to wood products facilities 9 
ea* ( ! #d regions describ$ 9 ! mo/     
rec5t ,r5ewable ,res\rce ,assessm5t     
prep>$ "u section #c ( ! ,=e/ & ,rangel&
 ,r5ewable ,res\rces ,plann+ ,act (     
#aigd 7#af ,u4,s4,c4 #afja72 &  7,,ii7  
any additional in=mation1 z id5tifi$ by 
! ,secret>y2 &  7ii7 us+ data collect$  
"u clause 7i7 to make a det]m9ation on  
:e!r f9anc+ ea* eligible project        
describ$ 9 subsection 7c7 may impact    
comm]cially available timb] supply2     
7,b7 all[s = ! cont9u$ production (     
su/a9able timb] supplies by utiliz+     
me?odologies t consid] ! c>bon /orage   
b5efits ( wood products 9 addition to   
=e/s2  7,c7 all[s = l&[n]s :o are n     
curr5tly involv$ 9 traditional =e/      
products m>kets1 includ+ ^? :o h n      
hi/orically access$ ,dep>tm5t (         
,agriculture assi/ance programs1 to     
p>ticipate 9 ! program ?r\gh activities 
su* z cons]vation easem5ts1 re=e/ation1 

& o!r appropriate activities1 z det]m9$ 
by ! ,secret>y2  7,d7 facilitates       
p>ticipation opportunities = all =e/    
l&[n]s1 & ensures program access = ^? :o
 h n hi/orically access$ ,dep>tm5t (    
,agriculture assi/ance programs2 &  7,e7
 is c>ri$ out 9 a mann] t increases     
=e/l& values = p>ticipat+ l&[n]s 9 ways 
t enable all l&[n]s ( small-acreage =e/s
 to ma9ta9-- 7i7 own]%ip ( ! l& 9 !     
family ( ! l&[n]2 &  7ii7 =e/ use ( !   
l&4  7c7 ,eligible projects  7#a7 ,9    
g5]al ,subject to p>agraph 7#b71 an     
eligible project ref]r$ to 9 subsection 
7b77#a7 is a project develop$ by a      
private entity1 ,/ate =e/ry ag5cy1 or   
publicly support$1 *>itable nonpr(it    
organization describ$ 9 section         
#eja7;c77#c7 ( ! ,int]nal ,rev5ue ,code 
( #aihf & exempt f taxation "u section  
#eja7;a7 ( t ,code1 engag$ 9 or seek+ to
 engage 9 ! aggregation ( su/a9able     
=e/ry practices implem5t$ by rural      
private =e/ l&[n]s to facilitate ! sale 
( cr$its 9 ! volunt>y environm5tal cr$it

 m>kets1 us+ me?odologies t1 z det]m9$  
by ! ,secret>y-- 7,a7 are approv$ by a  
cr$ible1 ?ird-p>ty entity2 &  7,b7 meet 
global b5*m>ks = high integrity4  7#b7  
,uses ( f9anc+  7,a7 ,9 g5]al ,an entity
 = :i* a bond1 loan1 or o!r inve/m5t    
vehicle is gu>ante$ "u ! program %all   
use t bond1 loan1 or o!r inve/m5t       
vehicle = appropriate activities to     
develop & c>ry out an eligible project  
describ$ 9 p>agraph 7#a71 z det]m9$ by !
 ,secret>y4  7,b7 ,additional activities
 = c]ta9 organizations ,9 ! case ( a    
bond1 loan1 or o!r inve/m5t vehicle     
gu>ante$ "u ! program t supports an     
eligible project describ$ 9 p>agraph    
7#a71 ! ,secret>y may all[ a portion ( !
 am\nt ( ! bond1 loan1 or o!r inve/m5t  
vehicle to cov] additional activities to
 facilitate ! p>ticipation ( ! entity or
 a rural private =e/ l&[n] 9 volunt>y   
environm5tal cr$it m>kets4  7,c7        
,prohibition ,a bond1 loan1 or o!r      
inve/m5t vehicle gu>ante$ "u ! program  
%all n be us$ to create a floor price or

 artificial dem& = ! environm5tal cr$its
 g5]at$ "u eligible projects describ$ 9 
p>agraph 7#a74  7d7 ,requirem5ts ,a     
project describ$ 9 subsection 7c7 t     
includes ! practice ( tree plant+ may   
only be c>ri$ out1 z det]m9$ by !       
,secret>y-- 7#a7 on l& t 0 hi/orically  
=e/$1 z det]m9$ bas$ on-- 7,a7 data     
collect$ ?r\gh ! ,=e/ ,inv5tory &       
,analysis ,program ( ! ,=e/ ,s]vice2 &  
7,b7 o!r appropriate sci5tific res\rces1
 z det]m9$ by ! ,secret>y2  7#b7 us+    
tree species t are native to ! region & 
at ecologically appropriate d5sities2 & 
7#c7 9 a mann] t does n create o!r      
negative impacts to biodiv]sity or !    
environm5t4  7e7 ,gu>antee am\nt ,)     
respect to bonds1 loans1 & o!r inve/m5t 
vehicles gu>ante$ "u ! program1 !       
,secret>y %all gu>antee n m ?an         
#aej1jjj1jjj 9 ! aggregate4  7f7        
,implem5tation  7#a7 ,appraisals ,!     
,secret>y may require an appraisal1 if  
necess>y1 9 connection ) a gu>antee     
reque/$ "u ! program by a specializ$    

apprais] t uses /&>ds t are simil> to   
/&>ds us$ = simil> purposes 9 ! private 
sector1 z det]m9$ by ! ,secret>y4  7#b7 
,f9ancial in=mation ,! ,secret>y may    
require f9ancial in=mation f an entity  
seek+ a gu>antee "u ! program 9 ! same  
mann] z is g5]ally requir$ by comm]cial 
l5d]s4  7#c7 ,fees  7,a7 ,9 g5]al       
,subject to subp>agraph 7,b71 to (fset !
 subsidy co/ ( ! gu>antees issu$ "u !   
program1 ! ,secret>y %all-- 7i7 assess  
an initial "o-"t fee ( n m ?an #a p]c5t 
( ! gu>ante$ am\nt ( ! bond1 loan1 or   
o!r inve/m5t vehicle2 &  7ii7 assess a  
subsequ5t annual fee ( n m ?an #j4c     
p]c5t ( ! gu>ante$ am\nt ( ! bond1 loan1
 or o!r inve/m5t vehicle4  7,b7         
,limitation ,not)/&+ subp>agraph 7,a71 !
 ,secret>y may n assess any fee "u ?is  
p>agraph t w\ld result 9 total fees 9   
excess ( ! am\nt equal to ! subsidy co/ 
( ! gu>antees issu$ "u ! program4  7g7  
,regulations ,n lat] ?an #fj days aft] !
 date ( enactm5t ( ?is ,act1 ! ,secret>y
 %all issue regulations to implem5t !   

program4  7h7 ,t]m9ation ( au?ority ,!  
au?ority to gu>antee a new bond1 loan1  
or o!r inve/m5t vehicle "u ?is section  
t]m9ates on ,septemb] #cj1 #bjbh4