AL SB230

Defines "pore space" as subsurface space usable for geologic storage or sequestration of carbon dioxide and vests ownership in surface property owners unless previously severed or explicitly excluded.

Requires storage operators to obtain consent of persons owning at least 66⅔ percent of pore space and storage rights, with the State Oil and Gas Board able to amalgamate non-consenting owners' rights on just and reasonable terms.

Creates two funds: the Underground Carbon Dioxide Storage Facility Administrative Fund for monitoring active facilities, and the Underground Carbon Dioxide Storage Facility Trust Fund for long-term monitoring of closed facilities.

Establishes a certificate of project closure and completion process requiring 10+ years post-injection, board consultation with the Alabama Department of Environmental Management, and demonstrated compliance and stability before the state assumes title to equipment and stored carbon dioxide.

Authorizes the Commissioner of Conservation and Natural Resources to lease state pore space for underground carbon dioxide storage and grants the State Oil and Gas Board rulemaking authority; becomes effective October 1, 2024.