Pennsylvania 2023-2024 Regular Session

Pennsylvania House Bill HB962

Introduced
4/19/23  

Caption

In development, further providing for bonding.

Impact

The bill is set to affect how operators manage financial guarantees for the environmental impacts of their activities. By adjusting bonding requirements, HB 962 seeks to enhance the liability of operators and hold them accountable for well restoration and abandonment procedures. It reflects a proactive approach to colloquially prevent orphaned wells and limit potential environmental damage resulting from poorly managed oil and gas extraction practices. This could potentially lead to improvements in land recovery and water safety in the regions affected by drilling operations.

Summary

House Bill 962 proposes amendments to Title 58 of the Pennsylvania Consolidated Statutes with a focus on bonding requirements for oil and gas well operators. The legislation aims to adjust the bonding amounts that operators must file when applying for well permits or operating existing wells. The proposed amendments include different bonding levels based on the type and number of wells an operator manages, which is intended to ensure that there are sufficient funds available to plug abandoned wells and restore the environment according to regulatory standards.

Sentiment

Sentiment around HB 962 appears to be mixed. Supporters generally view the bill as a necessary step for better regulation of the oil and gas industry and as a means to protect Pennsylvania’s natural resources. However, there are concerns from certain industry stakeholders who believe that the increased bonding requirements may impose a financial burden on operators, particularly smaller companies, potentially affecting their viability and operational flexibility. This highlights the tension between environmental sustainability and economic interests within the energy sector.

Contention

Key points of contention revolve around the balance between adequate environmental protection and the financial burden it places on oil and gas operators. Critics of the increased bonding amounts may argue that it places undue pressure on businesses, especially smaller independent operators who may struggle to meet these financial requirements. On the other hand, proponents emphasize the necessity of protecting public resources and ensuring that operators are financially responsible for the environmental impacts of their operations. The debate encapsulates broader discussions on responsible energy practices versus economic growth within the state.

Companion Bills

No companion bills found.

Previously Filed As

PA SB590

In development, further providing for bonding.

PA HB364

In development, further providing for bonding.

PA HB170

In development, further providing for well location restrictions.

PA SB581

In development, further providing for well location restrictions.

PA HB477

In development, further providing for hydraulic fracturing chemical disclosure requirements.

PA HB1219

In personal income tax, further providing for classes of income and for special tax provisions for poverty and providing for alternative special tax provisions for poverty; in corporate net income tax, further providing for definitions, for imposition of tax, for reports and payment of tax, for consolidated reports and for manufacturing innovation and reinvestment deduction; in realty transfer tax, further providing for transfer of tax; in tax credit and tax benefit administration, further providing for definitions; in entertainment production tax credit, further providing for definitions, for credit for qualified film production expenses, for carryover, carryback and assignment of credit and for limitations; in Pennsylvania Economic Development for a Growing Economy (PA EDGE) tax credits, providing for biotechnology; in neighborhood assistance tax credit, further providing for tax credit and for grant of tax credit; providing for expanded neighborhood improvement zones; in Pennsylvania Child and Dependent Care Enhancement Tax Credit Program, further providing for credit for child and dependent care employment-related expenses; providing for Public Transportation Trust Fund; and, in general provisions, further providing for underpayment of estimated tax, for method of filing and for allocation of tax credits.

PA HB1003

In development, further providing for well reporting requirements.

PA SB712

In development, further providing for definitions and for plugging requirements.

PA HB2444

In preliminary provisions, further providing for definitions; in games of chance, further providing for prize limits and for sales limited, providing for pull-tab deals, further providing for distributor licenses, for registration of manufacturers, for regulations of department and for licensing of eligible organizations; in club licensees, further providing for distribution of proceeds; and, in enforcement, further providing for revocation of licenses and providing for other penalties and for licensed eligible organizations subject to audit by Auditor General.

PA SB26

In development, further providing for relationship to solid waste and surface mining.

Similar Bills

No similar bills found.