The bill establishes new regulations for the geologic storage of carbon dioxide in Alabama by creating a new Division 2 within the Code of Alabama, which includes definitions such as "pore space" and clarifies ownership rights. It stipulates that pore space ownership is vested in surface landowners unless previously severed or explicitly excluded. The approval process for carbon dioxide storage facilities requires operators to obtain consent from a significant majority of pore space owners while considering the rights of existing surface and mineral owners. Additionally, the bill introduces two funds: the Underground Carbon Dioxide Storage Facility Administrative Fund for regulatory expenses and the Underground Carbon Dioxide Storage Facility Trust Fund for long-term monitoring and management of closed facilities. It also protects existing agreements made before October 1, 2024, from being altered by the new legislation.

Furthermore, the bill outlines the responsibilities of storage operators, including holding title to injected carbon dioxide and being liable for any related damages. Operators can apply for a certificate of project closure after meeting specific conditions, including public notice and consultation with the Alabama Department of Environmental Management. Upon closure, the title to monitoring equipment and stored carbon dioxide transfers to the state without compensation, releasing operators from regulatory obligations. The state will then take over long-term monitoring unless a federal agency assumes these duties. The Commissioner of Conservation and Natural Resources is granted authority to lease pore space for storage, and the act is set to take effect on October 1, 2024.

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