57-1617. Fees; Carbon Dioxide Storage Facility Trust Fund; created; use; investment.

(1) In addition to the fee required under section 57-1616, storage operators shall pay the commission a fee on each ton of carbon dioxide injected for storage. The fee shall be in an amount set by the commission in rules and regulations adopted and promulgated by the commission. The amount shall be based on the commission's anticipated expenses associated with long-term monitoring and management of the storage facility following issuance of the certificate of project completion under section 57-1619.

(2) Any fees collected pursuant to this section shall be remitted to the State Treasurer for credit to the Carbon Dioxide Storage Facility Trust Fund, which is hereby created. The fund shall be administered by the commission and shall be used only for defraying expenses the commission incurs in long-term monitoring and management of a closed storage facility. The commission, however, through a cooperative or interlocal cooperation agreement with another state agency, may use the fund to compensate the cooperating agency for expenses the cooperating agency incurs in carrying out regulatory responsibilities such agency may have over a storage facility. Interest earned by the fund shall be deposited in the fund. Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act. Transfers from the fund are not permitted.

Source:Laws 2021, LB650, ยง 17.

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