INDIANAPOLIS – Today Senate Bill (SB) 373 passed out of the Senate with a vote of 33 to 16. SB 373 is authored by State Senator Susan Glick (R-LaGrange), State Senator J.D. Ford (D-Indianapolis) and State Senator Rick Niemeyer (R-Lowell). The bill amends the current conservation trust program by providing the program with additional powers to reduce carbon footprints through partnerships with farmers. Sen. Ford released the following statement on the passage of SB 373:
“I want to thank everyone that testified in favor of this bill,” Sen. Ford said. “I always aim to enact legislation that my constituents support, and I was happy that we had so many colleagues sign onto the proposal as well.”
SB 373 allows interested Hoosiers to invest in carbon sequestration processes. Those funds would then cover the costs of the program. SB 373 also amends the law regarding the clean water Indiana program.
“This bill provides landowners and farmers with an incentive to participate in a carbon market,” Sen. Ford stated. “It allows them to retain new sources of income during a time when more and more companies are seeking opportunities to reduce their carbon footprint. Offsetting carbon emissions is a way for Indiana to combat climate change while also serving our economy.”
SB 373 will now advance to the House for consideration.