SB 1139 - Carbon Capture and Storage Act of 2012

• Requires the State Air Resources Board to adopt a final quantification methodology for carbon capture and storage projects by January 1, 2016, for use in demonstrating greenhouse gas sequestration under cap-and-trade programs and other compliance mechanisms.

• Amends Civil Code to clarify that pore space constitutes part of land ownership and can be possessed and used for storage of greenhouse gas, without changing mineral estate rights or dominance.

• Vests the State Fire Marshal with exclusive safety regulatory and enforcement authority over pipelines transporting carbon dioxide compressed to a supercritical state (more than 90% carbon dioxide).

• Requires the Division of Oil, Gas, and Geothermal Resources to regulate carbon dioxide injection at enhanced oil recovery projects seeking to demonstrate simultaneous geologic sequestration under the California Global Warming Solutions Act of 2006.

• Mandates that the quantification methodology ensure greenhouse gas emission reductions are real, permanent, verifiable, and enforceable, and that projects can transition to federal Class VI well status under the Safe Drinking Water Act.