This bill amends the Natural Resources and Environmental Protection Act by introducing new definitions and provisions related to abandoned oil and gas wells, specifically focusing on a new partnership program for bitcoin mining. Key insertions include the definition of "bitcoin mining" and the establishment of a "bitcoin program" that allows participants to use abandoned wells to generate electricity for bitcoin mining in exchange for their commitment to plug the wells and perform necessary site restoration. The bill also outlines the responsibilities of the supervisor in identifying suitable wells for the program, soliciting bids from potential participants, and managing the financial aspects of the program, including the allocation of funds for plugging and restoration activities.

Additionally, the bill specifies the criteria for selecting bids, the requirements for program participants, and the conditions under which they can take legal ownership of the wells after fulfilling their obligations. It emphasizes the importance of ensuring environmental safety and public health by requiring participants to obtain bonds and provide regular updates on their activities. The supervisor is also granted the authority to promulgate rules to implement the act, ensuring that the program operates within established legal frameworks.

Statutes affected:
House Introduced Bill: 324.61601