AL HB431

Imposes a 20% tax on the gross value of all carbon dioxide injected or stored in underground wells, with monthly remittance to the Department of Revenue

Defines carbon dioxide storage wells to include any well, pore space, geologic formation, or underground space used for CO2 sequestration, including EPA Class VI wells under the Safe Drinking Water Act

Allocates 50% of collected tax revenue to the State General Fund and 50% to the county where storage occurs

Requires municipalities to receive half of the county's share (25% of total) if storage occurs within municipal corporate limits

Effective date: October 1, 2026