Louisiana HB879 requires carbon dioxide storage facility operators to pay landowners 25% of their gross tax credit amount.
Louisiana HB879 mandates that carbon dioxide storage facility operators compensate landowners in the area of operations by paying them at least 25% of their gross tax credit amount. These payments are based on the proportionate share of the total surface acreage contributed to the storage facility. The bill adds a new section to the Revised Statutes of Louisiana, specifically R.S. 30:1116, to enforce this requirement.
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