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 defines "pore space" as subsurface space suitable for carbon dioxide storage. It clarifies that ownership of pore space is vested in surface property owners unless specified otherwise. The bill outlines the approval process for carbon dioxide storage facilities, requiring consent from a significant majority of pore space owners and consideration of existing mineral rights and safety concerns. Additionally, it introduces two funds: the Underground Carbon Dioxide Storage Facility Administrative Fund for regulatory activities and the Underground Carbon Dioxide Storage Facility Trust Fund for long-term monitoring of closed facilities. It also emphasizes that agreements regarding pore space must clearly convey or reserve rights and protects existing rights acquired before October 1, 2024.

Moreover, the bill mandates the creation of a fund to cover costs associated with testing, monitoring, and remediation of storage facilities, with strict provisions on fund usage and management by the State Treasurer. It details the process for issuing a certificate of project closure and completion, which includes public notice and compliance with safety standards. Upon issuance, the state takes ownership of the necessary equipment for long-term monitoring, releasing the storage operator from regulatory obligations. The bill also grants the Commissioner of Conservation and Natural Resources the authority to lease pore space on state lands, with the act 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
Enrolled: 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