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| | 103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB1550 Introduced 2/8/2023, by Sen. Sue Rezin SYNOPSIS AS INTRODUCED:
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Amends the State Property Control Act. Provides that Marquis Carbon Injection, LLC, is granted the right to inject and sequester carbon dioxide and other greenhouse gases for fair market value consideration as set by the Director of Central Management Services, as administrator, but not to exceed $0.25 per ton, on specified real property owned by the State of Illinois and managed by the Department of Natural Resources. Specifies the Parcel Identification Numbers of the properties concerned.
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| | A BILL FOR |
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| | SB1550 | | LRB103 25153 DTM 51492 b |
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| 1 | | AN ACT concerning finance.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The State Property Control Act is amended by |
| 5 | | adding Section 8.5 as follows:
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| 6 | | (30 ILCS 605/8.5 new) |
| 7 | | Sec. 8.5. Carbon sequestration. |
| 8 | | (a) Notwithstanding any provision of law to the contrary, |
| 9 | | Marquis Carbon Injection, LLC, is hereby granted the right to |
| 10 | | inject and sequester carbon dioxide and other greenhouse gases |
| 11 | | for fair market value consideration as set by the |
| 12 | | Administrator, but not to exceed $0.25 per ton, in that |
| 13 | | portion of the deep subsurface lying between the top of the Eau |
| 14 | | Claire formation and 150 feet below the Mount Simon formation |
| 15 | | underlying the real property owned by the State of Illinois |
| 16 | | and managed by the Department of Natural Resources that |
| 17 | | adjoins, is adjacent to, or is in proximity to, the privately |
| 18 | | owned real property in Putnam County, Illinois on which the |
| 19 | | Marquis Carbon Injection, LLC carbon sequestration project |
| 20 | | will take place. |
| 21 | | (b) The State Property concerned under this Section |
| 22 | | includes: |
| 23 | | (1) land located in Putnam County, Illinois having |