Bill > HB1037

This bill enacts the Mississippi Geologic Sequestration of Carbon Dioxide Act, which aims to promote the geologic sequestration of carbon dioxide in Mississippi. The key provisions of the bill include: 1) Establishing the State Oil and Gas Board as the regulatory authority over geologic sequestration of carbon dioxide, including permitting and oversight of Class VI underground injection control wells. This replaces the previous roles of the Mississippi Commission on Environmental Quality and the Mississippi Environmental Permit Board. 2) Defining key terms related to carbon dioxide sequestration, such as "carbon dioxide stream," "geologic sequestration," and "reservoir." 3) Granting the State Oil and Gas Board the authority to regulate and oversee geologic sequestration facilities, approve the use of carbon dioxide for enhanced oil and gas recovery, and establish financial assurance requirements. 4) Creating the Carbon Dioxide Storage Fund, which will be funded by sequestration fees collected by the Board and used to oversee closed geologic sequestration facilities to ensure compliance with federal regulations. The overall goal of the bill is to provide a coordinated statewide program for the geologic sequestration of carbon dioxide in Mississippi, which the state sees as beneficial for economic development and environmental protection.

Agriculture and Natural Resources

http://billstatus.ls.state.ms.us/2021/pdf/history/HB/HB1037.xml