Senate Bill No. 269 amends various sections of Oklahoma law to enhance the regulation and oversight of carbon sequestration activities. The bill grants the Corporation Commission exclusive authority over CO2 injection wells and associated sequestration facilities, while updating statutory language and definitions related to carbon capture. It establishes new notice requirements for the creation and operation of CO2 storage units and creates the Class VI Carbon Sequestration Storage Facility Revolving Fund, funded through fees levied by the Commission. The bill also clarifies the responsibilities of the Department of Environmental Quality (DEQ), specifying that it will not have jurisdiction over pipeline transportation of carbon dioxide, thereby delineating the environmental responsibilities of both the Corporation Commission and the DEQ.

Additionally, the bill amends the Oklahoma Carbon Capture and Geologic Sequestration Act, streamlining the legislative intent to focus on regulatory and operational aspects of CO2 sequestration facilities. It introduces new definitions, such as "capture" and "CO2 stream," and outlines the process for creating CO2 storage units, including application requirements and notice procedures. The bill mandates that carbon dioxide injected into a sequestration facility is considered the personal property of the facility owner, and it establishes a process for issuing a certificate of completion for injection operations. Furthermore, the bill allows the Corporation Commission to respond to environmental emergencies and provides liability protections for the Commission and its contractors. The act is set to take effect on November 1, 2025.