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FISCAL NOTE
Senate Bill 230
Committee: Finance and Taxation General FundSponsor: Senator Greg Albritton
Analyst: Mathieu Fuller Date: 04/02/2024
Senate Bill 230as introduced would increase the obligations of the State Oil and Gas Board by
an undetermined amount to regulate the underground storage of carbon dioxide. This increase in
obligations would be offset, wholly or partly, by an undetermined amount dependent upon: (1)
the amount of administrative fees set by the board and deposited into the Underground Carbon
Dioxide Storage Facility Administrative Fund, created by this bill in the State Treasury, for the
purpose of defraying expenses of the board for regulating the geologic storage of carbon
dioxide; and (2) the amount of fees set by the board and other funds deposited into the
Underground Carbon Dioxide Storage Facility Trust Fund, created by this bill in the State
Treasury, for the oversight of closed carbon dioxide storage facilities.
This bill could also increase receipts to the Department of Conservation and Natural Resources
(DCNR) by an undetermined amount dependent upon the amount of funds received for the lease
of pore space of certain state lands for the underground storage of carbon dioxide, as allowed by
this bill.