103RD GENERAL ASSEMBLY
State of Illinois
2023 and 2024
SB1550

 

Introduced 2/8/2023, by Sen. Sue Rezin

 

SYNOPSIS AS INTRODUCED:
 
30 ILCS 605/8.5 new

     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.


LRB103 25153 DTM 51492 b

 

 

A BILL FOR

 

SB1550LRB103 25153 DTM 51492 b

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

 

 

SB1550- 2 -LRB103 25153 DTM 51492 b

1    Parcel Identification Numbers 128050000, 128150000,
2    128040000, 128030000, 128070000, 128060000,
3    128170000,128240000, 128230000, 128220000, 128210000, and
4    128265000; and
5        (2) land located in Bureau County, Illinois having
6    Parcel Identification Numbers 2317200009, 2317200005,
7    2317200004, 2316100001, 2316100002, 2308400001,
8    2309300001, 2309100002, 2309200002, 2309100004,
9    2304300003, 2304400001, 2303300001, 2310100001,
10    2303400001, 2303200002, 2303100004, 1734476002,
11    1734300005, 2303200001, 2301100003, and 2302200002.