In furtherance of the objectives in Section 39741.1, the state board shall, no later than January 1, 2025, and consistent with § 71464 of the Public Resources Code, adopt regulations for financial responsibility for carbon dioxide capture, removal, or sequestration project in accordance with § 71464 of the Public Resources Code that are no less stringent than those contained in Section 146.85 of Title 40 of the Code of Federal Regulations, as that section read on January 1, 2022. The regulations shall require an operator of a carbon dioxide capture, removal, or sequestration projects to maintain financial responsibility for a period of time that is sufficiently long enough to demonstrate that the risk of carbon dioxide leakage poses no material threat to public health, safety, and the environment and to achievement of net zero greenhouse gas emissions in California and that terminates no earlier than 100 years after the last date of injection of carbon dioxide into a geologic storage reservoir.

(Amended by Stats. 2023, Ch. 131, Sec. 119. (AB 1754) Effective January 1, 2024.)