HB4370 - Carbon Dioxide Geologic Storage Act

• Creates regulatory framework for geologic storage of carbon dioxide in Illinois, applicable to injections commencing on or after January 1, 2021.

• Requires storage operators to obtain a reservoir permit from the Department of Natural Resources and pay a fee of $0.08 per ton of estimated CO2 injection.

• Mandates storage operators own or control all pore space in a storage facility; allows operators with 50-100% ownership to apply for Department amalgamation of remaining property interests with fair market value compensation determined by Department hearing.

• Establishes that storage operators hold title and liability for injected CO2 until Department issues a certificate of completion; upon completion, title transfers to the State with State assuming long-term monitoring and management responsibilities.

• Creates the Illinois Geologic Sequestration Special Fund from collected fees to fund Act administration and storage facility monitoring; limits home rule authority over geologic storage regulation.