SB1500 amends the Safety and Aid for the Environment in Carbon Capture and Sequestration Act to adjust compensation for nonconsenting pore space.
SB1500 amends the Safety and Aid for the Environment in Carbon Capture and Sequestration Act to modify provisions regarding the integration and unitization of ownership interests and the compensation for nonconsenting pore space owners. The bill specifies that compensation for nonconsenting pore space owners must be no less than the average total payment package provided to similarly situated consenting pore space owners. It removes requirements to exclude certain incentives and payments from the compensation calculation.
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