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Committee advances cleanup bill on carbon sequestration funding, 11-2 vote
Summary
The Utilities, Energy and Telecommunications Committee voted 11-2 to pass a technical cleanup to earlier carbon sequestration law, centering on who ultimately pays — investors or taxpayers — and how collected fees are handled.
The Utilities, Energy and Telecommunications Committee advanced a bill that modifies provisions of the state's carbon sequestration law and changes how associated fees are allocated, passing 11-2.
Senator Glick, sponsor of the measure, told the committee the bill is "simply about who pays — will it be the taxpayer or the investor?" He said the measure revises earlier language to streamline administration and clarify timelines for applicants.
The bill amends the prior act by replacing an 8-cent-per-metric-ton flat fee measurement and creates a year-end settlement…
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