The bill introduces new regulations for the geologic storage of carbon dioxide in Alabama, establishing a framework that includes the creation of two divisions within the Code of Alabama. It defines "pore space" as the subsurface area suitable for carbon dioxide storage, asserting that ownership of this space belongs to surface property owners unless stated otherwise. The bill outlines the approval process for carbon dioxide storage facilities, which requires consent from a significant majority of pore space owners and takes into account existing mineral rights and safety considerations. Additionally, it mandates that any agreements regarding pore space must clearly convey or reserve rights, ensuring that pre-existing rights are not impacted.

Moreover, the legislation establishes the Underground Carbon Dioxide Storage Facility Administrative Fund and the Underground Carbon Dioxide Storage Facility Trust Fund to support regulatory activities and long-term monitoring of storage facilities, respectively. It details the management of these funds, stipulating that they can only be used for specific purposes and must be overseen by the State Treasurer. The bill also outlines the process for issuing a certificate of project closure, which includes public notice and compliance with safety standards, after which ownership of the carbon dioxide and monitoring equipment transfers to the state. The Commissioner of Conservation and Natural Resources is granted the authority to lease pore space on state lands, 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
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