Senate Bill 23-285 Summary

• Renames the "Oil and Gas Conservation Commission" to the "Energy and Carbon Management Commission" and expands its regulatory authority to include geothermal resources and intrastate underground natural gas storage facilities.

• Grants the Commission exclusive authority to regulate deep geothermal operations (allocated geothermal resources and resources deeper than 2,500 feet), while the State Engineer retains authority over shallow geothermal operations.

• Establishes requirements for operations permits, local government coordination, and protection of disproportionately impacted communities for deep geothermal operations and underground natural gas storage facilities.

• Renames the "Oil and Gas Conservation and Environmental Response Fund" to the "Energy and Carbon Management Cash Fund" and adds new funding sources from geothermal and natural gas storage facility permits and fees.

• Appropriates $1,200,480 for fiscal year 2023-24 to implement the expanded regulatory framework, including 7.0 FTE for the Commission, and requires studies on hydrogen regulation and pipeline safety by July 1, 2024.