House Bill No. [insert bill number] introduced by Representative Robby Carter mandates that operators of carbon dioxide storage facilities compensate landowners in the area of operation. Specifically, the bill enacts R.S. 30:1116, which requires that at least 25% of the gross tax credits earned by these operators under federal law (26 U.S.C. 45Q) for carbon dioxide sequestration be paid to the owners in interest of the storage facility. The compensation must be allocated based on the proportionate share of the total surface acreage that each landowner contributes to the facility.

This legislation aims to ensure that landowners receive a fair share of the financial benefits derived from carbon dioxide storage operations on their property. By establishing a clear requirement for compensation, the bill seeks to promote equitable treatment of landowners and encourage responsible practices in carbon sequestration efforts.