summary
Introduced
01/27/2023
01/27/2023
In Committee
05/12/2024
05/12/2024
Crossed Over
04/17/2024
04/17/2024
Passed
07/16/2024
07/16/2024
Dead
Signed/Enacted/Adopted
08/01/2024
08/01/2024
Introduced Session
33rd Legislature
Bill Summary
An Act relating to carbon storage on state land; relating to the powers and duties of the Alaska Oil and Gas Conservation Commission; relating to deposits into the permanent fund; establishing the carbon storage closure trust fund and carbon dioxide storage facility administrative fund; relating to geothermal resources; relating to carbon storage exploration licenses; relating to carbon storage leases; relating to carbon storage operator permits; relating to enhanced oil or gas recovery; relating to long-term monitoring and maintenance of storage facilities; relating to carbon oxide sequestration tax credits; relating to the Regulatory Commission of Alaska and regulation of the service of natural gas storage; relating to the regulation of liquefied natural gas import facilities; relating to the oil and gas production tax; relating to the duties of the Department of Natural Resources; relating to carbon dioxide pipelines; relating to reserve-based state loans for oil and gas development projects in the Cook Inlet sedimentary basin; relating to the Alaska Industrial Development and Export Authority; requiring the Alaska Industrial Development and Export Authority to report to the legislature on oil and gas projects with potential to increase oil and gas production from the Cook Inlet sedimentary basin; relating to an audit of carbon storage leases conducted by the legislative audit division; and providing for an effective date.
AI Summary
This bill establishes the Carbon Capture, Utilization, and Storage Act, which gives the Alaska Oil and Gas Conservation Commission jurisdiction over carbon storage activities, including issuing permits and regulating storage facilities. The bill creates a carbon storage closure trust fund and a carbon dioxide storage facility administrative fund. It also amends various statutes to address carbon storage, including changes to the Alaska Permanent Fund, geothermal resources, pipeline right-of-way leases, and the oil and gas production tax. The bill requires the Alaska Industrial Development and Export Authority to report to the legislature on oil and gas projects with potential to increase production in the Cook Inlet sedimentary basin, and it requires a legislative audit of carbon storage leases.
Committee Categories
Agriculture and Natural Resources, Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Rules (H)
Last Action
FN1: (DNR) FROM HB 257 (on 09/03/2024)
Official Document
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.akleg.gov/basis/Bill/Detail/33?Root=HB50 |
| BillText | https://www.akleg.gov/PDF/33/Bills/HB0050Z.PDF |
| BillText | https://www.akleg.gov/PDF/33/Bills/HB0050F.PDF |
| BillText | https://www.akleg.gov/PDF/33/Bills/HB0050E.PDF |
| BillText | https://www.akleg.gov/PDF/33/Bills/HB0050D.PDF |
| BillText | https://www.akleg.gov/PDF/33/Bills/HB0050C.PDF |
| BillText | https://www.akleg.gov/PDF/33/Bills/HB0050B.PDF |
| BillText | https://www.akleg.gov/PDF/33/Bills/HB0050A.PDF |
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