KRS 353.441: Carbon dioxide sequestration facility trust fund.

(1) There is hereby created in the State Treasury an interest -bearing, restricted, agency

account to be known as the carbon dioxide sequestration facility trust fund. Moneys

in the fund shall be used for:

(a) The long-term monitoring and management of sequestr ation facilities prior to

closure, plugging, and abandonment of all monitoring wells in the event of

operator default;

(b) Expenses associated with the long -term monitoring and management after

issuance of a completion certificate; and

(c) Determining the causes and remediating the effects of any releases or

environmental emergencies associated with sequestration facilities.

(2) All amounts required to be deposited into the fund shall not be segregated into

separate accounts but may be used by the cabinet a s provided in this section for any

carbon dioxide sequestration project. Notwithstanding KRS 45.229, any balance

remaining in the fund at the end of any fiscal year shall not lapse but shall be

carried forward to carry out the purposes of the fund until fully expended.

(3) The secretary may:

(a) Enter into a cooperative agreement with another government agency to carry

out regulatory responsibilities over a sequestration facility on behalf of the

Commonwealth; and

(b) Compensate the government agency for it s expenses with money from the

fund.