| (1) |
There is levied a fee per ton of carbon dioxide injected into a reservoir. |
Terms Used In Utah Code 40-11-21
- Board: means the Board of Oil, Gas, and Mining. See Utah Code 40-11-1
- Carbon dioxide: means carbon dioxide (CO2) that has been captured from an emission source or direct air capture, plus incidental associated substances derived from the source materials and the capture process, and any substances added to the carbon dioxide to enable or improve the injection process. See Utah Code 40-11-1
- Division: means the Division of Oil, Gas, and Mining. See Utah Code 40-11-1
- Geologic carbon storage: means the permanent or short-term underground storage of carbon dioxide in a storage reservoir. See Utah Code 40-11-1
- Reservoir: means a subsurface sedimentary stratum, formation, aquifer, cavity, or void, whether natural or artificially created, including oil and gas reservoirs, saline formations, and coal seams suitable for or capable of being made suitable for geologic carbon storage. See Utah Code 40-11-1
- Storage facility: means the reservoir, underground equipment, and surface facilities and equipment used or proposed to be used in a geologic carbon storage operation. See Utah Code 40-11-1
| (2) |
The board shall establish the fee described in Subsection (1) in accordance with Section 63J-1-504, in an amount to pay the costs to the division of the regulation of storage facility:
| (c) |
pre-closure activities. |
|
| (3) |
Money the board collects in accordance with this section shall be deposited into the Geologic Carbon Storage Facility Administrative Fund created in Subsection (4). |
| (4) |
There is created an expendable special revenue fund known as the “Geologic Carbon Storage Facility Administrative Fund.” |
| (5) |
The fund shall consist of the money specified in Subsections (1) through (3), Section 40-11-20, and interest earned on the fund. |
| (6) |
The division shall only use the money deposited into the Geologic Carbon Storage Facility Administrative Fund to:
| (a) |
defray the division’s regulatory expenses incurred during the regulation of storage facility:
| (iii) |
pre-closure activities; |
|
| (b) |
make determinations in accordance with Section 40-11-20; and |
| (c) |
reimburse a regulatory agency with whom the board has entered into a cooperative agreement described in Section 40-11-18 for expenses the cooperating agency incurs in conducting the activities described in Subsections (6)(a) and (b). |
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Enacted by Chapter 62, 2022 General Session
