Article 4. Wetlands of California Fish And Game Code >> Division 2. >> Chapter 7.8. >> Article 4.

Upon the successful creation of any wetlands of at least 20 acres, or in the case of vernal pools, upon successful creation of vernal pools on a site at least 20 acres in size, the operator may request a determination by the department of the number of acres in the mitigation bank site, and the relative habitat value thereof, that qualify for credit against prospective wetland loss in the qualifying urban area. In determining the amount of mitigation bank credit, no credit shall be provided for habitat values or acreage that was in existence prior to the establishment of the bank.

(a) Upon receipt of a request pursuant to Section 1790, the department shall determine the number of acres which are wetlands in the bank site based on the criteria established pursuant to Section 1784, and the department shall classify those wetlands according to established biological criteria.
  (b) The classifications shall include, but are not limited to, the following wetland types:
  (1) Perennial freshwater marsh.
  (2) Perennial brackish marsh.
  (3) Seasonal freshwater marsh.
  (4) Wet meadow.
  (5) Vernal pool.
  (6) Riparian woodland.
  (7) Riparian scrub.

In the interest of assuring that the minimum price for wetland credit is sufficient to ensure the financial integrity of the bank, the department may establish a minimum price for each bank established pursuant to this chapter. The operator may set a higher price to the extent that price is consistent with the terms of the memorandum of understanding executed pursuant to Section 1785. After the department determines the number of wetland acres in the bank site that qualify for credit against wetland loss in a qualifying urban area, the operator shall provide to the department, and the department shall verify, an accounting of the average cost for each wetland acre created, by wetland type for the purpose of determining credits, using the following factors:
  (a) Land costs, including the reasonable interest cost of holding the land.
  (b) Wetland creation costs.
  (c) Wetland administration, maintenance, and protection costs.
  (d) Annual taxes, including all tax increases allowed under applicable state law, and in-lieu payments pursuant to Section 1787, if applicable.
  (e) Costs incurred by the department in establishing the bank site, and the direct cost of necessary ongoing monitoring and oversight.
  (f) Any other information relevant to a determination of the cost of preserving the wetlands in perpetuity.

The department shall be reimbursed for those expenses of the department identified in Section 1792 according to a schedule contained in an agreement with the person establishing a wetland mitigation bank. The agreement shall be approved by all parties prior to the commencement of planning activities.