House Bill No. by Representative McCormick amends R.S. 30:1104.2(C) and (D) to enhance the compensation framework for owners in interest involved in unitization for geologic storage. The bill mandates that unitization orders ensure just and equitable compensation for all owners, including those who consented and those who did not consent to geologic storage. A significant addition is that no owner in interest shall receive less than the maximum compensation paid per acre to any other owner in the unitization. The bill also requires that the order specify the method or formula for determining this compensation, taking into account various factors such as the impact on tracts and the costs of unit operations.

Additionally, the bill retains provisions allowing for judicial review of compensation determinations, enabling the proposed storage unit operator or any non-contracting owner in interest to challenge the public necessity of the storage unit and the fairness of the compensation. The court's review will focus on the specific compensation affecting the owner in interest seeking review, and it may request necessary information to assess just compensation. The option for a jury trial is also preserved, with the review process prioritized for expediency.

Statutes affected:
HB75 Original: 30:2(C)