In 2012, the California Legislature established new standards for review and approval of conservation and mitigation banks. CDFW was given the authority to charge and adjust specified fees to cover the reasonable costs of CDFW banking services for review, implementation, and compliance. The collected fees are dedicated to supporting CDFW staff to work with prospective bankers to establish and monitor banks.
The statute set the initial fees for each step of the process, and requires CDFW to adjust the banking fees annually. The revised fee schedule is:
| Bank Document Name/Phase
|
Review Fee through 12/31/2023
|
Review Fee 1/1/2024 to 12/31/2024
|
| Draft Prospectus (optional)
|
$1,972.50
|
$2,081.50
|
| Prospectus
|
$13,150.00 (or $11,177.50 if optional Draft Prospectus was evaluated)
|
$13,876.25 (or $11,794.75 if optional Draft Prospectus was evaluated)
|
| Bank Agreement Package
|
$32,874.25
|
$34,689.75
|
| Unsolicited Change
|
$13,150.00
|
$13,876.25
|
| Bank Amendment Package (initial/simple)
|
$9,862.50
|
$10,407.25
|
| Bank Amendment Package (complex)
|
$32,874.25 (or $23,011.75 if deemed complex but initial Bank Amendment Package fee already paid)
|
$34,689.75 (or $24,282.50 if deemed complex but initial Bank Amendment Package fee already paid)
|
| Implementation
|
$78,898.00
|
$83,255.25
|
Beginning in 2014, each fall CDFW will determine the fee change for the following year, notify the public via this web page, and update the Bank Submittal Form. The fee change will become effective on January 1 of each year. Bank sponsors submitting bank documents to CDFW that are received with the incorrect fees will receive a letter giving notice of the applicable fee and that the proposal will not be reviewed, and the review timeline will not begin, until CDFW has received the appropriate fee.