MS HB1037

Transfers regulatory authority over carbon dioxide geologic sequestration from the Mississippi Commission on Environmental Quality and Environmental Permit Board to the State Oil and Gas Board

Grants the State Oil and Gas Board jurisdiction over Class VI underground injection control wells used for carbon dioxide sequestration, including permitting, rulemaking, and enforcement

Establishes the Carbon Dioxide Storage Fund with a target balance of $2,500,000 per geologic sequestration facility, funded through per-ton sequestration fees collected from storage operators

Declares geologic sequestration of carbon dioxide to be in the public interest for enhanced oil and gas recovery, environmental benefits, and economic development including job creation

Authorizes the State Oil and Gas Board to approve conversion of existing enhanced oil or gas recovery operations into geologic sequestration facilities and regulate associated pipelines and facilities