This bill proposes to amend West Virginia Code §20-1-22 by removing the existing prohibition against leasing state-owned pore spaces that are located beneath lands designated as state parks. Currently, the law allows the director to lease pore spaces for underground carbon sequestration in various state-managed areas, but explicitly prohibits such leases in state parks. The bill seeks to eliminate this restriction, thereby enabling the director to lease these pore spaces with the necessary approvals.

In addition to the removal of the prohibition, the bill maintains the requirement for a competitive bidding process for leasing pore spaces, ensuring transparency and fairness. It also allows for direct awards of leases under certain conditions related to economic development projects, provided that the lease offers a market value or greater royalty. The proceeds from these leases would continue to be directed to the state treasury and used exclusively for the purposes outlined in the chapter.

Statutes affected:
Introduced Version: 20-1-22