S.1502 - Carbon Storage Stewardship Trust Fund Act of 2009

A bill to establish a program to be managed by the Department of Energy to ensure prompt and orderly compensation for potential damages relating to the storage of carbon dioxide in geological storage units. view all titles (2)

All Bill Titles

  • Short: Carbon Storage Stewardship Trust Fund Act of 2009 as introduced.
  • Official: A bill to establish a program to be managed by the Department of Energy to ensure prompt and orderly compensation for potential damages relating to the storage of carbon dioxide in geological storage units. as introduced.

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Introduced
 
Senate
Passes
 
House
Passes
 
President
Signs
 

 
07/22/09
 
 
 
 
 
 
 

Official Summary

Carbon Storage Stewardship Trust Fund Act of 2009 - Makes the Secretary of Energy responsible for the long-term stewardship of a carbon dioxide storage facility upon the issuance of a certificate of closure for the facility. Authorizes a state to request that the stewardship of a facility l

Official Summary

Carbon Storage Stewardship Trust Fund Act of 2009 - Makes the Secretary of Energy responsible for the long-term stewardship of a carbon dioxide storage facility upon the issuance of a certificate of closure for the facility. Authorizes a state to request that the stewardship of a facility located in the state be transferred to the state. Directs the Secretary, in coordination with the Administrator of the Environmental Protection Agency (EPA), to establish standards for monitoring, measurement, verification, and site remediation activities necessary to protect health, safety, and the environment during such stewardship. Establishes in the Department of Energy (DOE) the Carbon Storage Stewardship and Trust Fund Program. Directs the Secretary to require operators of carbon dioxide storage facilities to:
(1) maintain adequate liability insurance during the phases of the facility through receipt of a certificate of closure; and
(2) pay a risk-based fee for each ton of carbon dioxide injected by the facility into geological storage units. Establishes in the Treasury a Carbon Storage Trust Fund, which shall be used to pay long-term stewardship costs, Program administrative costs, and civil claims brought against a facility after closure. Sets forth provisions concerning limitations on, funding of, and adjudication of such claims.

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