Indiana § 14-39-1-17 Duty to provide notice and make a written offer for compensation;
requirements for an offer to compensate

Indiana Statutes

§ 14-39-1-17 — Duty to provide notice and make a written offer for compensation; requirements for an offer to compensate

Indiana·Art. 39 CARBON DIOXIDE·Ch. 1 Eminent Domain for Pipeline Transportation or

(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:

(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,

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(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:
(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.

Indiana § 14-39-1-17 (Duty to provide notice and make a written offer for compensation; requirements for an offer to compensate) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.