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Sponsors
Senator · Senate District 57
No co-sponsors yet.
History
- Referred to environmental conservation
- Referred to environmental conservation
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S786
Title of bill
An act to amend the environmental conservation law, in relation to establishing a fund for the natural gas and oil producing industry to make financial security affordable for natural gas and oil producers who own, operate, maintain and plug natural gas and oil wells
Purpose
The purpose of this legislation is to create a fund to provide a secure and dedicated source of money to plug natural gas and oil wells that have been abandoned.
Summary of provisions
The environmental conservation law is amended by adding a new section 23-0315.
Justification
This legislation would create a dedicated fund, administered by the Commissioner of Environmental Conservation, which would be used to plug and secure natural gas and oil wells that are abandoned and determined to be an imminent or immediate hazard to the public safety or environment.
Many New York State natural gas and oil producers have been subjected to increasing and excessive financial security costs rendering plugging bonds unaffordable or unavailable. Steps to ensure that the Department of Environmental Conservation has the tools and funds necessary to require that natural gas and oil wells be properly plugged need to be strengthened.
A natural gas and oil producer would be able, in lieu of the financial security requirements currently required, to participate in the natural gas and oil well security fund. A producer who is registered and permitted by the Department would pay ten dollars per well per year, with an initial one time fee of five hundred dollars.
Legislative history
2009-2010: S.3410 Referred to Environmental Conservation 2007-2008: S.401/A.2581 Referred to Environmental Conservation 2006: S.6234/A.645 Referred to Environmental Conservation 2003-2004: A.8820/S.5451 Referred to Environmental Conservation
Fiscal implications
This legislation would create a fund which would be used to plug abandoned natural gas and oil wells.
Effective date
This act shall take effect immediately.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.