GEOLOGIC CARBON DIOXIDE SEQUESTRATION ACT

This bill creates a regulatory framework for storing carbon dioxide underground in geologic formations (like rock layers or aquifers) to prevent it from entering the atmosphere. It requires companies (called "operators") seeking to store CO2 to form "sequestration units" covering the necessary land and subsurface pore space, with specific processes for acquiring rights from landowners and submitting detailed applications to the Oil Conservation Division. The law applies to new storage projects after its effective date, excludes projects using CO2 for oil recovery, and establishes the division's authority to enforce rules and approve projects based on geologic evidence and landowner notifications.