[Congressional Record Volume 147, Number 49 (Thursday, April 5, 2001)]
[Extensions of Remarks]
[Pages E553-E554]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  THE AMERICAN WETLAND RESTORATION ACT

                                 ______
                                 

                          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;

[[Page E554]]

  (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.

                          ____________________