The bill establishes an enhanced oil recovery stimulus program in Wyoming, aimed at promoting the use of carbon dioxide in enhanced oil recovery processes. It creates a new chapter in the law, defining key terms such as "carbon capture, utilization and storage technology" and "carbon dioxide provider." The bill outlines the eligibility requirements for carbon dioxide providers to apply for the stimulus, which includes capturing carbon dioxide through specified technology and using it in oil and gas recovery projects within the state. The stimulus amount is set at ten dollars per ton of carbon dioxide used, with funding sourced from a newly created enhanced oil recovery stimulus account.

Additionally, the bill mandates the administration of the stimulus by the Wyoming energy authority, which will ensure compliance with the established qualifications before disbursing funds. It requires annual reporting on the funds paid from the stimulus account and the associated revenue impacts. The bill also includes an appropriation of ten million dollars from the legislative stabilization reserve account to support the stimulus payments, with specific provisions for fund transfers and reversion. The act is set to take effect on July 1, 2024.