Volume 147, No. 49 covering the 1st Session of the 107th Congress (2001 - 2002) was published by the Congressional Record.
The Congressional Record is a unique source of public documentation. It started in 1873, documenting nearly all the major and minor policies being discussed and debated.
“THE AMERICAN WETLAND RESTORATION ACT” mentioning the Environmental Protection Agency was published in the Extensions of Remarks section on pages E553-E554 on April 5, 2001.
The publication is reproduced in full below:
THE AMERICAN WETLAND RESTORATION ACT
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HON. WALTER B. JONES
of north carolina
in the house of representatives
Wednesday, April 4, 2001
Mr. JONES of North Carolina. Mr. Speaker, I rise today to announce the introduction of the ``American Wetland Restoration Act.''
This legislation builds upon the wetlands mitigation banking legislation I introduced in the last 3 Congresses and also the 1995 Federal Guidance issued by the Environmental Protection Agency and the United States Army Corps of Engineers.
My Congressional district in eastern North Carolina includes most of the coast and four major river basins. More than 60% of my district could be classified as wetlands. My constituents are directly impacted by wetlands and the countless regulations that protect them. I have been contacted by farmers, business owners, state and local officials, land owners and even the military for advice and guidance in order to reach a balance between protecting these valuable resources while improving water quality but also providing for strong economic development.
On almost a daily basis, we are reminded of the critical role wetlands play in our ecosystems, specifically in maintaining water quality.
Wetlands mitigation banking is a concept readily embraced by regulators, developers and environmentalists. This balanced approach recognizes the need to protect our wetland resources while ensuring property owners their rights to have reasonable use of their properties.
Federal legislation is not only warranted, it is vital. While mitigation banking is occurring, it is limited because the authorizing agencies have little or no statutory guidance. Also, investors and venture capitalists are hesitant to invest the money needed to restore wetlands without legal certainty. One of the great benefits of private mitigation banking is that the monitoring of one large tract of wetland requires fewer resources than monitoring thousands of tiny, unsuccessful mitigation projects.
But, before a single credit is ever issued and before a wetlands mitigation banker can ever earn a dime, they must acquire land, develop a comprehensive restoration plan and establish a cash endowment for the long-term maintenance of the bank. This daunting challenge is magnified when you recall that there is no current statutory authority!
These mitigation banks give economic value to wetlands, potentially providing billions of dollars to restoring wetlands in sensitive watersheds. Unlike other mitigation projects, mitigation banks are complete ecosystems. So instead of only trying to protect the remaining wetlands, mitigation banking will actually increase wetlands acreage!
My legislation sets a simple but lofty goal: No net loss of wetlands. Specifically, the legislation requires
(1) That mitigation banks meet rigorous financial standards to assure wetlands are restored and preserved over the long term;
(2) That there is an ample opportunity for meaningful public participation;
(3) That banks must have a credible long-term operation and maintenance plan;
(4) That the banks be inspected by the same regulatory agencies who have assigned the credits and permitted the banks; and,
(5) That the banks only receive credits if they prove the continuing ecological success of their project, thus allowing regulators to ensure a 100% success rate of the projects they monitor.
Mitigation banking places the responsibility for restoration and preservation of wetlands in the hands of the experts and establishes the financial incentive to make the restoration work. By applying sound environmental engineering to the restoration process, setting up a longterm monitoring and maintenance endowment, and having the regulatory controls in place--these are the assurances my legislation requires of any potential banking project.
This free-market approach to environmental conservation and stewardship is hard for some to swallow. But I ask you, many organizations have profited greatly from stringent environmental regulations, yet where has all the money gone that was allegedly spent on protecting the environment? And are our lands and waterways really in better hands when the Federal government is the owner or administrator?
I do not believe the interests of the economy and the environment have to be at odds. Wetlands mitigation banking makes conservation good business. It provides the financial and ecological incentives to make restoring, preserving and protecting our environment successful.
The end result, protecting and preserving environmentally sensitive lands, is assured with my legislation. The ``American Wetland Restoration Act'' will give wetlands mitigation banking the statutory authority it needs to flourish, and it will begin restoring the wetlands that many thought were lost forever.
I hope my colleagues will join me supporting this bill.
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