The bill introduced by Senators Schaffer and Chavez establishes a regulatory framework for carbon capture and storage technologies in Ohio, enacting new sections of the Revised Code that define key terms and delineate the roles of stakeholders, including storage operators and the division of oil and gas resources management. It grants the division exclusive authority to regulate carbon sequestration activities, ensuring uniform statewide oversight and comprehensive rules for the operation and permitting of storage facilities. The bill also outlines the requirements for obtaining a UIC Class VI permit for carbon dioxide injection, mandates consent from pore space owners for consolidation applications, and includes provisions for monitoring seismic activity and protecting water supplies during operations.

Additionally, the legislation introduces new provisions regarding pore space ownership, clarifying that ownership is vested in the surface owner unless otherwise stated, and establishes that rights to pore space can be transferred. It specifies that the ownership of injected carbon dioxide belongs to the storage operator while limiting liability for pore space owners. The bill also outlines the conditions for claims against storage operators for damages due to carbon dioxide injection, requiring claimants to prove harm and restricting punitive damages if operators comply with regulations. Overall, the bill aims to clarify property rights and responsibilities in carbon sequestration, facilitating project development while ensuring public and environmental safety.