summary
Introduced
02/02/2022
02/02/2022
In Committee
Crossed Over
Passed
Dead
02/17/2022
02/17/2022
Introduced Session
2022 Regular Session
Bill Summary
AN ACT RELATING TO THE ENVIRONMENT; ENACTING THE GEOLOGIC CARBON DIOXIDE SEQUESTRATION ACT; PROVIDING FOR THE UNITIZATION OF FORMATIONS FOR SUBSURFACE SEQUESTRATION OF CARBON DIOXIDE; LIMITING LIABILITY OF OWNERS OF SEQUESTRATION FACILITIES FOLLOWING TRANSFER TO STATE OWNERSHIP; ESTABLISHING FEES; DECLARING AN EMERGENCY.
AI Summary
This bill enacts the Geologic Carbon Dioxide Sequestration Act, which provides for the unitization of formations for the subsurface sequestration of carbon dioxide and limits the liability of owners of sequestration facilities following transfer of ownership to the state. The bill grants the Oil Conservation Division authority to enforce the act and establish fees for sequestration facilities and applications. It also specifies that the state will succeed to the rights and liabilities of an operator five years after cessation of carbon dioxide injection, upon the issuance of a certificate of completion of injection operations.
Sponsors (5)
Last Action
Action Postponed Indefinitely (on 02/02/2022)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.nmlegis.gov/Legislation/Legislation?chamber=H&legtype=B&legno=205&year=22 |
| BillText | https://www.nmlegis.gov/Sessions/22%20Regular/bills/house/HB0205.pdf |
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