H.B. 1290: Orphaned Well Cryptocurrency Mining Partnership Program; create.

AN ACT TO CREATE THE ORPHANED WELL CRYPTOCURRENCY MINING PARTNERSHIP PROGRAM FOR THE PURPOSE OF AUTHORIZING CRYPTOCURRENCY MINERS TO ASSUME LIABILITY OF PLUGGING, REMEDIATING, OR RECLAIMING ORPHANED WELLS, IN RETURN FOR TEMPORARY CONTROL OF THE ENERGY FROM THE WELL; TO REQUIRE THE MISSISSIPPI DEPARTMENT OF ENVIRONMENTAL QUALITY TO ADMINISTER THE PROGRAM; TO DEFINE CERTAIN TERMS RELATING TO ORPHANED WELLS AND CRYPTOCURRENCY MINING; TO CREATE THE ORPHANED WELL CRYPTOCURRENCY MINING PARTNERSHIP PROGRAM FUND; TO PROVIDE FOR A BIDDING PROCESS FOR CRYPTOCURRENCY MINERS IN THE PROGRAM; TO REQUIRE THAT THE COST OF PLUGGING, REMEDIATING, OR RECLAIMING AN ORPHANED WELL BE CAPPED AT THREE TIMES THE INITIAL ESTIMATE BY THE DEPARTMENT, UNLESS IT IS DEMONSTRATED THAT THE WINNING BIDDER CAUSED ADDITIONAL COSTS TO THE SITE; TO REQUIRE CRYPTOCURRENCY MINERS IN THE PROGRAM TO PROVIDE A YEARLY UPDATE TO THE DEPARTMENT; TO AUTHORIZE CRYPTOCURRENCY MINERS TO TAKE LEGAL OWNERSHIP OF THE WELL AT THE END OF THE AGREED UPON MINING PERIOD; AND FOR RELATED PURPOSES.