Committee advances bill to create long-term stewardship fund, seek state primacy for geologic carbon storage
House Bill 458, as amended, would create a long-term stewardship fund funded by a per-ton fee for injected CO2 and enable New Mexico to seek EPA primacy for Class VI geologic carbon-storage permits; the committee added authority for the Oil Conservation Commission to set a sufficient fee schedule.
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SANTA FE — The House Appropriations and Finance Committee advanced House Bill 458 on Tuesday after adopting amendments that set a minimum fee for a long-term stewardship fund and direct the Oil Conservation Commission to adopt a fee schedule sufficient to meet projected needs.
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