Proximity Factor Tool - State SB 492
Major Changes to Florida’s Mitigation Banking Program Go Into Effect July 1, 2025
SB 492 was signed into law in 2025 and introduces significant updates to Florida’s wetland mitigation banking framework, particularly for projects regulated under F.S. 373. This legislation standardizes credit release schedules across the state, eliminates the requirement for cumulative impact analyses (CIA), and outlines a formal process for accessing out-of-service-area credits.
Whether you're a landowner, consultant, developer, or agency, understanding these changes is essential to navigating your current and future mitigation needs.
SB 492 brings sweeping updates to how mitigation is administered by the Florida Department of Environmental Protection (FDEP) and the state’s five water management districts. Key updates include:
Standardized Credit Release Schedule
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30% of credits released upon recordation of the conservation easement and financial assurances
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30% released after initial construction
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20% released incrementally as interim performance criteria are met
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20% released upon achieving final success criteria
Cumulative Impact Analysis No Longer Required
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Credit purchases within a bank’s permitted service area are now deemed to meet CIA requirements automatically.
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Credit purchases utilizing the SB 492 multiplier framework are considered to have satisfied the Cumulative Impact requirement under Section 373.414(8)(a), eliminating the need for separate cumulative impact analysis when using in-kind credits from outside the service area.
Formalized Process for Out-of-Basin Credit Use
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Applicants may use credits outside a service area if the mitigation service area lacks available in-kind credits.
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Requires a documented credit deficiency process and applies defined proximity multipliers.
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See below for a breakdown of the credit multiplier:
How does it work?
The Out-of-Basin credit tool calculates the number of mitigation credits needed when a project impacts areas outside a mitigation bank’s service area. Here’s a concise summary of how to use the tool:
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Service area of Mitigation Bank overlaps basin: Multiplier = 1.0
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One Basin away: Multiplier = 1.2
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Each additional Basin: Add 0.25
02. In-Kind vs. Out-of-Kind Replacement
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In-kind: Multiplier = 0
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Out-of-kind: Multiplier = 0.50
03. Calculate Multiplier
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Sum all multipliers to get the total proximity factor.
04. Determine Required Credits
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Multiply the total proximity factor by the "as-if in-basin" credits required for the project.
​When a permit applicant wants to use credits outside a mitigation bank’s service area, they must follow this formalized procedure:
