Wetlands mitigation banking involves the restoration, creation, or enhancement of certain wetlands to offset unavoidable wetlands losses elsewhere. Under a banking system, the restored, created or enhanced wetlands are considered credits that can be withdrawn to offset losses.
A final guidance document on the establishment and maintenance of wetlands mitigation banks took effect on December 28, 1995. It is the product of a cooperative effort by the U.S. Army Corps of Engineers, the EPA, the Natural Resources Conservation Service, the Fish and Wildlife Service, and the National Oceanic and Atmospheric Administration. The guidance document does not change the substantive requirements of federal law but rather provides internal guidance and procedures for agency field personnel for the establishment and use of mitigation banks.
Although New Jersey has assumed administration of the freshwater wetlands program, this document is relevant for tidal wetlands, which remain under the joint jurisdiction of the state and federal government.
