This bill directed the Kansas Corporation Commission to establish rules for geologic storage facility permitting. It established the carbon dioxide injection well and underground storage fund, and created tax incentives for CCS.
Sequestration
Sequestration Site Permitting
Permitting Authority:
Kansas State Corporation Commission
Rule Status:
Final Feb 11, 2010, see Kansas Register v. 29 pp 182-190
EOR Status
EOR Status:
Definition of carbon dioxide well includes wells associated with EOR.
Long-term Stewardship
Funding Mechanism:
Creates the carbon dioxide injection well and underground storage fund, and authorizes it to pay expenses related to permitting and regulatory oversight, enforcement,long-term monitoring and post-closure remediation.
Tax Incentive
Description:
Property Tax Incentive-Any carbon capture, sequestration or utilization property is exempt from Kansas state property taxes.
Income Tax Incentive-A taxpayer may deduct from adjusted gross income the amortized costs of carbon dioxide capture, sequestration or utilization machinery. The amortization deduction is 55% of the amortizable costs of such machinery for the first taxable year and 5% for each or the next nine years.
Expiration Date:
Property tax exemption is in effect for five years following construction or installation of property
