Carbon Sequestration and Reporting Act

Carbon Sequestration and Reporting Act - Amends the Energy Policy Act to provide for the establishment of the Carbon Advisory Council which shall advise on reporting guidelines for greenhouse gas sequestration from soil carbon and forest management actions, and their potential effects and effectiveness.

Amends the Global Climate Change Prevention Act of 1990 to authorize the Secretary of Agriculture to enter into cooperative agreements for forest carbon activities on private, State, or Indian lands. Directs the Secretary to provides States with assistance to establish revolving loan programs for forest carbon activities on nonindustrial private forest land. Authorizes Washington, Oregon, Idaho, and Montana to apply for funding from the Bonneville Power Administration for loans for related purposes or for specified fish and wildlife purposes.

Amends the Food Security Act of 1985 to direct the Secretary to establish a carbon sequestration program, which may include conservation reserve and wetlands reserve lands.

Directs the Secretary to carry out four or more carbon monitoring pilot programs.