This bill amends the Natural Resources and Environmental Protection Act to establish a comprehensive regulatory framework for carbon dioxide sequestration activities. It introduces new definitions for terms such as "carbon dioxide capture project," "carbon dioxide sequestration activity," and "carbon dioxide storage reservoir." The bill mandates that individuals must obtain a permit from the Department of Environment, Great Lakes, and Energy before engaging in such activities, detailing the necessary components of a permit application, including environmental impact assessments and financial assurances. It also modifies existing definitions related to environmental permits, replacing "Environmental permit review commission" with "Environmental permit panel," and outlines processing deadlines for various permits.

Furthermore, the bill emphasizes the importance of public health and environmental protection by requiring operators to monitor sites for at least 30 years post-injection and maintain financial assurance for potential costs. It establishes penalties for non-compliance, including civil fines starting at $50,000 and potential felony charges for serious violations. The legislation also creates a carbon dioxide sequestration fund to support administrative costs and greenhouse gas reduction projects, while ensuring that pore space owners receive just compensation for their property rights. Overall, the bill aims to streamline the permitting process for carbon dioxide sequestration while safeguarding public health and the environment.

Statutes affected:
House Introduced Bill: 324.1301