,,ii  #aah? ,,congress  #a/ ,session    
,s4 #ccii  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #e1 #bjbc,mr4 
,casey 7= himself1 ,mr4 ,braun1 & ,ms4  
,/ab5[7 introduc$ ! foll[+ bill2 :i* 0  
read twice & ref]r$ to ! ,committee on  
,agriculture1 ,nutrition1 & ,=e/ry  ,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    
,cov]$ entity ,! t]m cov]$ entity means 
an eligible entity = :i* a bond1 loan1  
or o!r inve/m5t vehicle is gu>ante$ "u !
 program4  7#b7 ,eligible entity ,! t]m 
eligible entity means 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 ,code  

engag$ 9 or seek+ to engage 9 !         
aggregation ( su/a9able =e/ry practices 
implem5t$ by rural private =e/ l&[n]s to
 facilitate ! sale ( environm5tal cr$its
 9 volunt>y environm5tal cr$it m>kets4  
7#c7 ,program ,! t]m program means !    
,rural ,=e/ ,m>ket ,inve/m5t ,program   
e/abli%$ "u subsection 7b77#a74  7#d7   
,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#e7 ,secret>y ,!
 t]m ,secret>y means ! ,secret>y (      
,agriculture4  7#f7 ,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 & cov]$ 
entities 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 ( a rural  
private =e/ l&[n] or a cov]$ entity 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   
collaborate ) ! ,"u ,secret>y = ,rural  
,developm5t1 includ+ by provid+         
in=mation & te*nical assi/ance1 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 products2  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 = =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 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 an eligible    
entity us+ me?odologies t1 z det]m9$ by 
! ,secret>y-- 7,a7 are approv$ by a     
cr$ible1 ?ird-p>ty entity2 &  7,b7 meet 
global b5*m>ks = high-integrity4  7#b7  
,uses ( f9anc+  7,a7 ,9 g5]al ,a cov]$  
entity %all use ! bond1 loan1 or o!r    
inve/m5t vehicle gu>ante$ = ! cov]$     
entity "u ! program = 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 ( ! cov]$ 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 appraisal ( an 
eligible entity reque/+ a gu>antee "u ! 
program1 includ+ to assess !            
cr$itwor?9ess ( ! eligible entity1 by a 
specializ$ 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 eligible entity reque/+ a gu>antee
 "u ! program 9 ! same mann] z is       
g5]ally requir$ by comm]cial l5d]s4  7g7
 ,audit+ ,n less frequ5tly ?an annually1
 ! ,secret>y %all conduct audits ( ea*  
eligible project f9anc$ "u ! program to 
ensure t ! me?odology us$ ) respect to !
 project cont9ues to comply ) ! /&>ds   
det]m9$ by ! ,secret>y "u subp>agraphs  
7,a7 & 7,b7 ( subsection 7c77#a74  7h7  
,regulations ,n lat] ?an #ahj days aft] 
! date ( enactm5t ( ?is ,act1 !         
,secret>y %all issue regulations to     

implem5t ! program4  7i7 ,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