Section 15-22-1004 - Mitigation banks - Acquisition and protectionThe Arkansas Natural Resources Commission or the commission's designee may:
(1) Set a sales price for credits in the mitigation bank on behalf of the commission;(2) Acquire or accept title, including easements, from willing sellers or donors to approved lands, in the name of the commission, suitable for use in mitigation banks;(3) Pay costs incurred for alterations needed to create or restore aquatic resources areas for purposes of carrying out the provisions of this subchapter;(4) Authorize payment of administrative, research, or scientific monitoring expenses of the commission in carrying out the provisions of this subchapter;(5) Receive funds from whatever source for the voluntary acquisition of a mitigation bank and interests therein;(6) Enter into contracts with state and federal agencies, nonprofit corporations, or other persons for the management of mitigation bank properties; and(7)(A) Upon satisfactory establishment of a functioning aquatic resources site, convey mitigation bank properties to other appropriate state agencies for management.(B) The commission shall reserve such interest in the mitigation bank property as necessary to protect the aquatic resources function and values.Amended by Act 2021, No. 501,§ 5, eff. 7/28/2021.Amended by Act 2019, No. 910,§ 79, eff. 7/1/2019.Acts 1995, No. 562, § 4; 2007, No. 476, § 3.