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FISCAL NOTE
Senate Bill 230
Committee: Finance and Taxation General FundSponsor: Senator Greg Albritton
Analyst: Mathieu Fuller Date: 04/03/2024
Senate Bill 230as reported by the Committee on Finance and Taxation General Fund 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.