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MI SB0825
Bill
AI Summary
- Extends the abandonment period for geologic pore space compensation from 3 years to 10 years before unclaimed payments transfer to the Michigan Department of Treasury
- Amends the Uniform Unclaimed Property Act (1995 PA 29) specifically for compensation related to pore space used for carbon dioxide storage under Part 653 of the Natural Resources and Environmental Protection Act
- Property owners have 10 years instead of the standard 3 years to claim payments owed for use of their underground geologic pore space
- Contingent on passage of five related Senate Bills (SB 822, 823, 824, 826, and 827) from the 103rd Legislature
- Introduced by Senators Irwin, Bayer, Shink, and Chang; referred to Committee on Energy and Environment
Legislative Description
Property: abandoned; compensation for use of geologic pore space; modify period for transfer to department of treasury. Amends sec. 3 of 1995 PA 29 (MCL 567.223). TIE BAR WITH: SB 0822'26, SB 0823'26, SB 0824'26, SB 0826'26, SB 0827'26
Environmental protection: air pollution
Last Action
Referred To Committee On Energy And Environment
3/10/2026
Committee Referrals
Energy And Environment3/10/2026
Full Bill Text
No bill text available