Legislature(2023 - 2024)
2024-05-13 Senate Journal
Full Journal pdf2024-05-13 Senate Journal Page 2636 HB 50 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" which had been moved to the bottom of the calendar, was read the third time. 2024-05-13 Senate Journal Page 2637 Senator Giessel moved CS FOR HOUSE BILL NO. 50(FIN) be returned to second reading for the purpose of a specific amendment, that being SENATE CS FOR CS FOR HOUSE BILL NO. 50(FIN). Without objection, the bill was returned to second reading. Senator Stedman, Cochair, moved and asked unanimous consent for the adoption of the Finance Senate Committee Substitute offered on page 2614. Without objection, 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" was adopted. SENATE CS FOR CS FOR HOUSE BILL NO. 50(FIN) was automatically in third reading. President Stevens stated SENATE CS FOR CS FOR HOUSE BILL NO. 50(FIN) would be held in third reading to the May 14 calendar. There being no objection, it was so ordered.