TO CLARIFY THE REGULATION OF CARBON CAPTURE AND SEQUESTRATION; AND TO ESTABLISH THE CARBON DIOXIDE STORAGE FUND.

HB 1411 clarifies the regulation of carbon capture and storage projects in Arkansas by granting the Oil and Gas Commission specific authority over underground CO2 storage operations. It establishes a Carbon Dioxide Storage Fund funded by a $0.10 fee per ton of CO2 injected (with $0.07 directed to the fund), which will cover long-term monitoring, emergency repairs, and plugging of leaking wells after storage ends. The bill directly affects companies storing CO2 underground, requiring them to pay application fees ($50,000), annual well fees ($1,000 per well), and the per-ton fee. The fund ensures safety and environmental protection by financing post-closure activities like well inspections and remediation.