Sec. 17. (a) Before the anticipated migration of carbon dioxide as predicted by the testing and monitoring activities pursuant to the Class VI permit issued to the carbon sequestration pilot project, the pilot project operator shall:

(1) notify:

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 14-39-1-17

  • carbon dioxide: means a fluid consisting of more than ninety percent (90%) carbon dioxide molecules. See Indiana Code 14-39-1-1
  • carbon sequestration pilot project: refers to the pilot project described in section 3. See Indiana Code 14-39-1-2.4
  • Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
  • in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • person: includes a political body, a corporate body, and the state of Indiana. See Indiana Code 14-39-1-2.6
  • pore space: means subsurface cavities or voids that can be used as a storage space for carbon dioxide. See Indiana Code 14-39-1-2.7
  • Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(A) the person who owns the pore space in fee simple; or

(B) any person with a right by a recorded conveyance document to use the pore space;

of the anticipated migration of the carbon dioxide; and

(2) make an offer of compensation in writing:

(A) to the person identified in subdivision (1)(A) to acquire, lease, or occupy the pore space; or

(B) to a person identified in subdivision (1)(B) for any diminution in the rights that the person has acquired to use the pore space.

     (b) An offer of compensation required by subsection (a)(2), with respect to a parcel, must be a yearly payment of forty percent (40%) of the average estimated cash rent per acre for the area of Indiana and the average class of land, according to the Farmland Values & Cash Rents Survey Results published by Purdue University most recently before the offer of compensation is made, every year until the cessation of injection of carbon dioxide.

As added by P.L.53-2023, SEC.5.

  Previous section
Next section  
 Chapter 1 Contents