(1) Carbon dioxide mitigation plans relying on purchase of permanent carbon credits must meet the following criteria:

     (a) Credits must derive from real, verified, permanent, and enforceable carbon dioxide or carbon dioxide equivalents emission mitigation not otherwise required by statute, regulation, or other legal requirements;

     (b) The credits must be acquired after July 1, 2004; and

     (c) The credits may not have been used for other carbon dioxide mitigation projects.

     (2) Permanent carbon credits purchased for project mitigation shall not be resold unless approved by the council, department, or authority.

[2004 c 224 § 3.]