2024-05-12                     Senate Journal                      Page 2614
HB 50                                                                                                                         
The Finance Committee considered CS FOR HOUSE BILL                                                                              
NO. 50(FIN) "An Act relating to carbon storage on state land; relating                                                          
to the powers and duties of the Alaska Oil and Gas Conservation                                                                 
Commission; relating to carbon storage exploration licenses; relating                                                           
to carbon storage leases; relating to carbon storage operator permits;                                                          
relating to enhanced oil or gas recovery; relating to long-term                                                                 
monitoring and maintenance of storage facilities; relating to carbon                                                            
oxide sequestration tax credits; relating to the duties of the Department                                                       
of Natural Resources; relating to carbon dioxide pipelines; and                                                                 
providing for an effective date" and recommended it be replaced with                                                            
                                                                                                                                

2024-05-12                     Senate Journal                      Page 2615
          SENATE CS FOR CS FOR HOUSE BILL NO.                                                                                   
          50(FIN) "An Act relating to carbon storage on state                                                                   
          land; relating to the powers and duties of the Alaska                                                                 
          Oil and Gas Conservation Commission; relating to                                                                      
          deposits into the permanent fund; establishing the                                                                    
          carbon storage closure trust fund and carbon dioxide                                                                  
          storage facility administrative fund; relating to                                                                     
          geothermal resources; relating to carbon storage                                                                      
          exploration licenses; relating to carbon storage                                                                      
          leases; relating to carbon storage operator permits;                                                                  
          relating to enhanced oil or gas recovery; relating to                                                                 
          long-term monitoring and maintenance of storage                                                                       
          facilities; relating to carbon oxide sequestration tax                                                                
          credits; relating to the Regulatory Commission of                                                                     
          Alaska and regulation of the service of natural gas                                                                   
          storage; relating to the regulation of liquefied natural                                                              
          gas import facilities; relating to the oil and gas                                                                    
          production tax; relating to the duties of the                                                                         
          Department of Natural Resources; relating to carbon                                                                   
          dioxide pipelines; relating to reserve-based state                                                                    
          loans for oil and gas development projects in the                                                                     
          Cook Inlet sedimentary basin; relating to the Alaska                                                                  
          Industrial Development and Export Authority;                                                                          
          requiring the Alaska Industrial Development and                                                                       
          Export Authority to report to the legislature on oil                                                                  
          and gas projects with potential to increase oil and gas                                                               
          production from the Cook Inlet sedimentary basin;                                                                     
          relating to an audit of carbon storage leases                                                                         
          conducted by the legislative audit division; and                                                                      
          providing for an effective date."                                                                                     
          (Title Change SCR 17)                                                                                                 
                                                                                                                                
Signing do pass: Senators Hoffman, Olson, Cochairs. Signing no                                                                  
recommendation: Senator Stedman, Cochair; Senators Wilson, Kiehl,                                                               
Merrick, Bishop.                                                                                                                
                                                                                                                                
                                                                                                                                

2024-05-12                     Senate Journal                      Page 2616
The following fiscal information was published today:                                                                           
          Fiscal Note No. 14, Department of Commerce, Community, and                                                           
          Economic Development                                                                                                  
     Fiscal Note No. 15, zero, Department of Commerce, Community,                                                               
          and Economic Development                                                                                              
     Fiscal Note No. 16, indeterminate, Department of Natural                                                                   
          Resources                                                                                                             
     Fiscal Note No. 17, zero, Department of Natural Resources                                                                  
 Fiscal Note No. 18, indeterminate, Department of Revenue                                                                       
                                                                                                                                
The following previously published fiscal information applies:                                                                  
     Fiscal Note No. 9, zero, Department of Environmental                                                                       
           Conservation                                                                                                         
 Fiscal Note No. 13, zero, Department of Commerce, Community,                                                                   
          and Economic Development                                                                                              
                                                                                                                                
The bill is on today's first supplemental calendar.