The bill introduced in the 136th General Assembly establishes a regulatory framework for carbon capture and storage technologies, specifically focusing on the geologic sequestration of carbon dioxide. It grants the division of oil and gas resources management exclusive authority to regulate carbon sequestration activities and allows the chief of the division to adopt rules for permits, inspections, and monitoring. The bill outlines the process for obtaining a UIC Class VI permit, emphasizing safety, environmental protection, and liability insurance. It requires storage operators to secure consent from a majority of pore space owners before submitting a consolidation application and mandates that operators address objections from subsurface property owners regarding potential adverse effects on commercially valuable minerals.

Additionally, the bill introduces provisions for public notice and hearings related to carbon sequestration projects, establishes a fee structure for carbon dioxide injection, and creates a carbon dioxide storage facility fund for post-closure care expenses. It clarifies ownership of pore space, stating that it is vested in the surface owner unless otherwise reserved, and presumes ownership of injected carbon dioxide belongs to the storage operator. The bill also outlines conditions for claims against storage operators for damages due to carbon dioxide injection, specifying that claims are recoverable only if harm to health or property is proven, while limiting punitive damages for compliant operators. Overall, the legislation aims to create a comprehensive regulatory approach to facilitate safe and effective carbon sequestration in Ohio while protecting the interests of property owners.