AB 807: Conservation and mitigation bank: marine artificial reefs.

This bill aims to expand the definition of conservation banks and mitigation banks to include marine artificial reefs. A person can create a marine artificial reef after completing a full environmental review to establish a mitigation or conservation bank. Both nonprofit and for-profit organizations are authorized to establish and operate these banks. If a marine artificial reef is located on state sovereign land, a lease is required from the state lands commission. This lease satisfies the requirements for a bank enabling instrument and allows the department to grant a conservation easement.