"Carbon management" is defined by the act as any combination of carbon dioxide removal, carbon storage, carbon capture, and carbon utilization. The act ensures that carbon management projects, except for agricultural, forestry, and enhanced oil recovery projects, are eligible for money under the industrial and manufacturing operations clean air grant program.
The act also requires the Colorado energy office (office), in collaboration with the office of economic development and the department of public health and environment, to contract with an organization for the development of a carbon management roadmap for the state. The office is required to ensure that the roadmap functions in concert with other state targets, teams, and documents related to greenhouse gas and carbon. The roadmap must include: Specified economic sectors; necessary infrastructure to support carbon management; specified types of policies and incentives; identification of the state agency best positioned to carry out a potential policy regime of carbon management; public interest, legislative, and administrative policy recommendations; and criteria for carbon management project selection.
After receiving a draft of the roadmap, the office is required to hold at least one public hearing to solicit feedback on the roadmap, including comment on the roadmap's environmental health impacts. The contracted organization is required to use that feedback to update the roadmap. The office is required to present the updated roadmap to specified committees in the general assembly and then later update the general assembly on the implementation of the roadmap.
APPROVED by Governor May 22, 2023
EFFECTIVE August 7, 2023
NOTE: This act was passed without a safety clause and takes effect 90 days after sine die.
(Note: This summary applies to this bill as enacted.)