HB 170: Establish process to regulate carbon capture, storage technology

The bill aims to regulate carbon capture and storage technologies and the geologic sequestration of carbon dioxide for long-term storage. It establishes a process to oversee these activities and ensures uniform statewide regulation. The division of oil and gas resources management has sole and exclusive authority to regulate carbon sequestration and storage facility operation. The regulation of these activities is a matter of general statewide interest and requires uniform statewide regulation. The bill allows for the creation of a program to incentivize innovation for the use of and reutilization of captured carbon dioxide. It also provides for the payment of civil penalties for violations of the regulations, with penalties ranging from $2,500 to $20,000 or more, depending on the severity of the offense. Additionally, the bill ensures that the authority granted to the director of trans…