Carbon Capture and Storage

Gives Board exclusive jurisdiction over CO2 injection wells and geologic storage reservoirs, allowing the Board to issue permits, adopt design standards, and establish measures to prevent contamination, among other things.

Specifies standards necessary for the operation of a CO2 injection well including monitoring, record keeping, labeling and equipment.

Prohibits operation of a CO2 well without a permit.

Requires operating fee for CO2 injection well.

The “Coal Conversion Facilities Tax” provides a 20%-50% tax credit to coal facilities that capture and store 20%-80% of their CO2 emissions.

The “Oklahoma Carbon Capture and Geologic Sequestration Act” gives jurisdiction to the Corporation Commission to oversee CO2 injections in oil or gas reservoirs and to the Department of Environmental Quality for any other geologic formations.