§ 14-39-2-10 — Carbon dioxide storage facility trust fund; reversion; appropriation

Indiana § 14-39-2-10

• Jurisdiction: Indiana
• Art. 39: CARBON DIOXIDE
• Ch. 2: Underground Storage of Carbon Dioxide

Text

(a) The carbon dioxide storage facility trust
fund is established for the purpose of defraying the costs incurred by
the department for the long term monitoring and management of,
including monitoring and managing the safety of, carbon sequestration
projects. The fund shall be administered by the department.
(b) Fees collected by the department under section 9(b) of this
chapter must be deposited in the carbon dioxide storage facility trust
fund established by subsection (a).
(c) The carbon dioxide storage facility trust fund must be
maintained as a special fund and all money in the fund is appropriated
and may be used only to defray the costs incurred by the department for
the long term monitoring and management of a carbon sequestration
project.
(d) The fund consists of the following:
(1) Money deposited in or distributed to the fund under this
article.
(2) Donations, gifts, grants, and money received from any other
source, including appropriations or transfers from other funds or
accounts.
(e) The treasurer of state shall invest the money in the fund not
currently needed to meet the obligations of the fund in the same
manner as other public money may be invested.
(f) Money in the fund at the end of a state fiscal year does not revert
to the state general fund.
(g) Money in the fund is continuously appropriated to the
department to carry out the purposes of this article, subject to review
by the budget committee.

Legislative History

As added by P.L.163-2022, SEC.2. Amended by P.L.25-2025, SEC.9; P.L.213-2025, SEC.140.