Illinois Subsurface Underground Carbon Dioxide Storage Lease and Agreement (with Landowner, Long Form)
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The Carbon Capture and Utilization Parity Act of 2023 would increase the tax credit for carbon capture and utilization to match the incentives for carbon capture and sequestration for both direct air capture and the power and industrial sectors.
Creates the Underground Carbon Dioxide Storage Act. Provides that the Act applies to the underground storage of carbon dioxide but does not apply to extractable mineral resources, and the rights and requirements of the Act are subordinate to the rights pertaining to oil, gas, and coal resources.
