Bill > SF0017

This bill establishes a Carbon Dioxide Enhanced Oil Recovery Stimulus program in Wyoming to incentivize carbon capture and oil production. The program allows carbon dioxide providers to receive a $10 stimulus payment for every ton of carbon dioxide captured in Wyoming, used in enhanced oil and gas recovery, and stored through that process. To qualify, providers must use carbon capture technology to collect carbon dioxide from within Wyoming, sell or deliver it for enhanced oil recovery, and have already qualified for the federal 45Q tax credit for carbon oxide sequestration. The Wyoming Energy Authority will administer the program, reviewing applications and ensuring providers meet all requirements. An initial $10 million will be appropriated from the legislative stabilization reserve account to fund the stimulus payments, with a dedicated Enhanced Oil Recovery Stimulus Account created to manage these funds. The stimulus will be available until the federal tax credit expires, and the amount may be adjusted based on changes in the federal tax credit. The program requires annual reporting on stimulus payments and associated tax revenues, and any funds not used by July 1, 2034, will revert to the legislative stabilization reserve account. The bill is set to take effect on July 1, 2025, and aims to encourage carbon capture technologies while supporting Wyoming's oil and gas industry.

Budget and Finance, Business and Industry

Minerals, Business and Economic Development (J)

https://www.wyoleg.gov/Legislation/2025/SF0017