Carbon market participation; coastal and marine resources.

Department of Environmental Quality; carbon market participation; coastal and marine resources. Allows the Department of Environmental Quality to participate in any carbon market for the preservation, restoration, and sustainable management of the Commonwealth's coastal and marine resources on state-owned bottomlands and property and enter into agreements necessary to facilitate such participation. The bill requires the Department to hold exclusive title to such credits until such credits are sold.

Any revenues resulting from the sale of such credits are required to be distributed as follows: 75 percent to the Oyster Replenishment Fund and 25 percent to the qualifying leaseholder.