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mitigation banks provide many benefits including their ability to reduce
uncertainty over whether mitigation will adequately offset development impacts; to
apply financial resources, planning, and expertise not always available to
individual developers; and to reduce permit processing times and provide
cost- effective means to accomplish mitigation goals.
The Commission recommends that the General Assembly study further the
idea of land mitigation requirements and any authorizing legislation needed to
authorize voluntary or mandatory mitigation banking.
Encouraging Local Governments. The Commission finds that encouraging local
government participation in land and water conservation and cultural and historic
preservation is a necessary part of any reform to the State's current conservation
and preservation efforts. The Commission recommends that the General Assembly
consider proposals that would provide additional funding options at the local level
for conservation purposes. Those options could include allowing the imposition of
a special property tax dedicated to conservation purposes, authorization for
additional levies of local sales and use taxes, or modifying local legislation relating
to occupancy taxes to clarify or establish that those funds may be used for
conservation or preservation purposes. In addition, the Commission recommends
that the General Assembly evaluate the means by which it encourages local
participation with projects funded by the four major conservation trust funds with
the goal of encouraging greater local participation.
Enhancement of the Conservation Tax Credit. The Commission finds that the tax
credits for certain real property donations ( G. S. 105- 130.34 and G. S. 105- 105- 151.12)
have been successful in encouraging private donations of valuable land for
conservation purposes. The Commission recommends that the General Assembly
