The bill addresses the regulation of geologic storage of carbon dioxide in Alabama, specifying that pore space ownership is vested in surface rights owners unless previously severed. It requires storage operators to gain consent from a majority of pore space owners and allows the State Oil and Gas Board to amalgamate storage rights. The bill establishes two funds: the Underground Carbon Dioxide Storage Facility Administrative Fund for regulatory duties and the Trust Fund for long-term management of closed facilities. It also sets provisions for fair compensation, limits surface impacts, and exempts agreements executed before October 1, 2024, from certain requirements.

Additionally, the bill details the conditions for the issuance of a certificate of project closure and completion, including a ten-year period after injection ends, compliance with laws, and stability of the stored carbon dioxide. Upon certificate issuance, the state receives title to necessary equipment and the stored carbon dioxide without compensation, and the operator is released from further obligations. The Commissioner of Conservation and Natural Resources is authorized to lease pore space, and the board is granted rulemaking authority. The bill includes insertions related to fund investment and conditions for project closure certification, as well as unspecified deletions. The act will take effect on October 1, 2024, and has been passed by the Senate.

Statutes affected:
Introduced: 9-17-160, 9-17-150, 9-17-151, 9-17-152, 9-17-153, 9-17-154, 9-17-155, 9-17-156, 9-17-157
Engrossed: 9-17-160, 9-17-150, 9-17-151, 9-17-152, 9-17-153, 9-17-154, 9-17-155, 9-17-156, 9-17-157