Bill > SB1018

This bill creates a new legal mechanism called a "CO2 victim lien" to provide compensation for individuals impacted by carbon dioxide (CO2) pipeline or facility incidents. The bill defines a "kill zone" as a 25-mile radius around a CO2 pipeline rupture or release, and allows any person residing, traveling through, or owning property within this zone to file a lien for damages caused by the incident. Victims can file a UCC-1 financing statement within one year of the event to perfect their lien, which will have priority over other existing liens and can cover both compensatory and punitive damages against the pipeline owner's assets. The lien can be filed regardless of intent or liability, and must be filed with the county clerk's office in the kill zone. If the owner of the pipeline enters bankruptcy, any assets must be held in trust for potential lienholders for up to one year after the owner's last day of operation. Victims must file a termination statement within 30 days of receiving written demand from the owner or when the owner has fulfilled all lien obligations. The bill is set to become effective on November 1, 2025, and is designed to protect individuals and businesses potentially harmed by CO2 pipeline or sequestration site incidents.

Agriculture and Natural Resources

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb1018&Session=2600