(1) In administering the program created in Section 79-2-504, the department shall: (a) create a system through which: (i) a person may: (A) generate a mitigation credit from the department if the person creates a conservation bank by enhancing and dedicating land for sage grouse habitat and conservation; and (B) sell a mitigation credit generated under Subsection (1)(a)(i)(A) to another person that permanently disturbs sage grouse habitat; (ii) the state may generate a mitigation credit by enhancing and dedicating land for sage grouse habitat and conservation; (iii) a person may purchase a mitigation credit generated by the state under Subsection (1)(a)(ii) for no less than the state's total cost of enhancing and dedicating the land; and (iv) a person may use a mitigation credit to permanently disturb sage grouse habitat to the extent that the person possesses sufficient mitigation credits; (b) create a system for tracking mitigation credits that are created, purchased, sold, or used under Subsection (1); (c) establish procedures and criteria to identify and approve land that a person or a governmental entity may use for compensatory mitigation; and (d) consistent with this chapter, integrate and coordinate the program with other state, local, private, and non-profit plans to protect and manage sage grouse habitat.

(a) create a system through which: (i) a person may: (A) generate a mitigation credit from the department if the person creates a conservation bank by enhancing and dedicating land for sage grouse habitat and conservation; and (B) sell a mitigation credit generated under Subsection (1)(a)(i)(A) to another person that permanently disturbs sage grouse habitat; (ii) the state may generate a mitigation credit by enhancing and dedicating land for sage grouse habitat and conservation; (iii) a person may purchase a mitigation credit generated by the state under Subsection (1)(a)(ii) for no less than the state's total cost of enhancing and dedicating the land; and (iv) a person may use a mitigation credit to permanently disturb sage grouse habitat to the extent that the person possesses sufficient mitigation credits;

(i) a person may: (A) generate a mitigation credit from the department if the person creates a conservation bank by enhancing and dedicating land for sage grouse habitat and conservation; and (B) sell a mitigation credit generated under Subsection (1)(a)(i)(A) to another person that permanently disturbs sage grouse habitat;

(A) generate a mitigation credit from the department if the person creates a conservation bank by enhancing and dedicating land for sage grouse habitat and conservation; and

(B) sell a mitigation credit generated under Subsection (1)(a)(i)(A) to another person that permanently disturbs sage grouse habitat;

(ii) the state may generate a mitigation credit by enhancing and dedicating land for sage grouse habitat and conservation;

(iii) a person may purchase a mitigation credit generated by the state under Subsection (1)(a)(ii) for no less than the state's total cost of enhancing and dedicating the land; and

(iv) a person may use a mitigation credit to permanently disturb sage grouse habitat to the extent that the person possesses sufficient mitigation credits;

(b) create a system for tracking mitigation credits that are created, purchased, sold, or used under Subsection (1);

(c) establish procedures and criteria to identify and approve land that a person or a governmental entity may use for compensatory mitigation; and

(d) consistent with this chapter, integrate and coordinate the program with other state, local, private, and non-profit plans to protect and manage sage grouse habitat.

(2) The state's total cost described under Subsection (1)(a)(iii) may include costs associated with the department's administration of the program.