Summary: S.2540 — 106th Congress (1999-2000)All Information (Except Text)

There is one summary for S.2540. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (05/10/2000)

Domestic Carbon Storage Incentive Act of 2000 - Amends the Food Security Act of 1985 to direct the Secretary of Agriculture, acting through the Chief of the Natural Resources Conservation Service, to establish a carbon sequestration program to permit owners and operators of eligible land (excluding conservation reserve land) to enroll in minimum ten-year contracts.

Directs the Secretary to establish an advisory panel, which shall develop: (1) criteria for evaluating carbon sequestration practices; and (2) estimates of carbon sequestration rates.

Directs the Secretary, through the Extension Service, to conduct educational outreach programs respecting agricultural practices that will increase sequestration of carbon.

Sets forth contract provisions, including cost-sharing and rental payments by the Secretary to participating owners and operators.

States that the program shall be funded from Commodity Credit Corporation funds, and at the option of other agencies, from funds available for climate change initiatives or greenhouse gas emission reductions.