Plain English Breakdown
The official source material does not provide specific details on how much money will be collected or spent through the new fee program.
Indiana Carbon Dioxide Pipeline and Sequestration Bill
This bill amends Indiana's laws concerning natural resources by adding requirements for carbon dioxide pipelines and storage projects, including risk assessments, liability rules, and inspections.
What This Bill Does
- Requires companies to provide a risk assessment and estimate of how much carbon dioxide they will inject when applying for permission to build a pipeline.
- Says that when the government takes private land for these pipelines, it must consider the risks involved in setting fair compensation.
- Creates a new fee program for pilot projects that store carbon dioxide underground.
- States that if ownership of a storage project changes, the previous owner is still responsible for any mistakes or bad behavior before the change.
- Requires the Indiana Department of Natural Resources to inspect these storage projects.
Who It Names or Affects
- Companies applying for permission to build carbon dioxide pipelines
- People whose land might be taken by eminent domain for pipeline construction
- Owners and operators of carbon sequestration pilot projects
Terms To Know
- carbon sequestration
- The process of capturing and storing carbon dioxide to reduce greenhouse gases in the atmosphere.
- eminent domain
- The power of a government to take private property for public use, usually with compensation.
Limits and Unknowns
- Does not specify how much money will be collected or spent through the new fee program.
- Does not explain what happens if companies do not follow the new rules about risk assessments and liability.
- The bill has passed both chambers of the Indiana legislature but its final status is pending.