Section 34-60-140 - Ownership of geologic storage resources and injection carbon dioxide - legislative declaration(1) The general assembly declares that this section is intended to allow for the permanent use of geologic storage resources for geologic storage operations and is not intended to impact the use or ownership of the subsurface for conjunctive use of surface and groundwater resources, artificial recharge, storage, and extraction intended to maximize utilization of water for beneficial use or other operations.(2)(a) Except as set forth in subsection (5) of this section: (I) If ownership of the sequestration estate has not been separately severed, conveyed, or reserved pursuant to subsection (2)(b) of this section, it is presumed that ownership of the sequestration estate in the state is vested in the owner of the overlying surface estate; and(II) Ownership of injection carbon dioxide and the facilities and equipment that store injection carbon dioxide in the state is vested in:(A) The person that injects the injection carbon dioxide into a geologic storage resource; or(B) Any person conveyed title to the injection carbon dioxide or the facilities and equipment that store the injection carbon dioxide by the person described in subsection (2)(a)(II)(A) of this section.(b) Ownership of a sequestration estate may be: (I) Severed from the ownership of the overlying surface estate; and(II) Conveyed or reserved in the same manner as ownership of a mineral estate.(3) Any conveyance of the ownership of an overlying surface estate also conveys all of the grantor's ownership of any sequestration estate unless:(a) The conveyance instrument expressly reserves the sequestration estate, including by broad reservation of pore space; or(b) The sequestration estate has been previously severed, by reservation or conveyance, from the ownership of the overlying surface estate.(4) A conveyance of the ownership of a mineral estate or another subsurface interest does not convey the grantor's ownership in the sequestration estate unless the conveyance instrument expressly provides for conveyance of the grantor's ownership of the sequestration estate.(5) Notwithstanding any provision of law to the contrary, nothing in this section: (a) Affects any ownership or rights to pore space, a sequestration estate, or injection carbon dioxide or to facilities and equipment that store injection carbon dioxide that are acquired or reserved before the effective date of House Bill 24-1346, enacted in 2024;(b) Changes or alters the common law as of the effective date of House Bill 24-1346, enacted in 2024, as it relates to the ownership of real property, including surface estates, pore space, or a mineral estate, or to the rights or dominance of a mineral estate;(c) Affects the ability of an owner of pore space to: (I) Broadly convey or reserve all of the owner's right, title, and interest in and to pore space, including the owner's interest in a sequestration estate; or(II) Convey or reserve any right, title, or interest in and to estates in pore space other than the sequestration estate; or(d) Affects the ownership or rights to pore space or a sequestration estate within the exterior boundaries of an Indian reservation located within the state.Added by 2024 Ch. 216,§ 11, eff. 5/21/2024.