Carbon dioxide-enhanced oil recovery stimulus.
What changed between versions
Added requirement that carbon dioxide providers must qualify for and receive federal tax credits under 26 U.S.C. 45Q before receiving state stimulus payments.
Added provisions requiring the authority to adjust stimulus amounts proportionally based on changes in the difference between federal tax credits for enhanced oil recovery versus secure geological storage.
Added specific conditions stating stimulus is unavailable when secure geological storage credits exceed enhanced recovery project credits by more than $15, or when storage credits are equal to or less than recovery project credits.
Modified the definition of 'Enhanced oil and gas recovery' to include technology to optimize development and recovery of oil and gas resources.
Added authority to consult with federal or state agencies to ensure compliance with conditions before approving stimulus payments.