The bill amends the 1929 PA 16, which regulates the transportation and sale of crude oil, petroleum, and carbon dioxide substances in Michigan. It introduces new definitions, including "carbon dioxide substance," which refers to a gaseous or liquid substance primarily made of carbon dioxide used for storage or in hydrocarbon production. The bill clarifies that individuals or entities involved in the transportation, storage, or sale of these substances must have authorization under this act to operate within the state, and it specifies that they do not possess rights such as eminent domain without this authorization.

Additionally, the bill outlines exceptions to the regulations, stating that existing rights as of March 27, 1929, that are valid and cannot be revoked by state or federal law are not affected. It also includes an exception for the operation of carbon sequestration wells under the Natural Resources and Environmental Protection Act. The enactment of this bill is contingent upon the passage of two other specified bills in the 103rd Legislature.

Statutes affected:
Senate Introduced Bill: 483.1