IA SF299

Creates the Iowa Carbon Dioxide Disaster Relief Fund within the state treasury, controlled by the Department of Natural Resources, to provide immediate disaster response and long-term recovery assistance for incidents involving liquefied carbon dioxide pipeline, transportation, or storage system failures

Imposes an excise tax on owners of liquefied carbon dioxide pipelines and facilities, as well as suppliers, based on both total transportation capacity and actual volume of carbon dioxide transported through Iowa annually, with the rate to be determined by the General Assembly

Requires a minimum balance of $10 billion in the fund before any common carrier liquefied carbon dioxide pipeline may operate within the state; pipelines must cease transportation if the fund falls below this threshold

Establishes two oversight bodies: an Oversight Board (minimum 5 governor-appointed, senate-confirmed members serving 5-year terms) to maintain fiduciary integrity, and a Victim Assistance Board (minimum 7 members including representatives from local government, environmental organizations, disaster relief, affected landowners, and legal experts)

Mandates biennial General Assembly review of fund operations, including evaluation of excise tax rates for inflation adjustments and assessment of disaster response protocol effectiveness