Bill > A02446

This bill amends the environmental conservation law to establish a "hydraulic fracturing reserve" by requiring that ten percent of all natural gas or oil produced through hydraulic fracturing, a process used to stimulate oil and gas well production by creating fractures in rock, must be contributed to this state reserve at no cost to the state, with the exception of incidental transportation expenses. This reserve, to be established and managed by the commissioner, will be exclusively for the use of the state's power authorities to produce electricity, and the commissioner will set rules for its fair and equitable distribution. All contracts and permits for hydraulic fracturing will need to include a clause detailing this ten percent contribution obligation, and the attorney general will be responsible for enforcing these provisions.