HB 2612 establishes the Texas Carbon Dioxide Sequestration Policy Council within the Texas Railroad Commission to study and provide recommendations on carbon dioxide sequestration, the carbon capture industry, and related technologies. The council is composed of up to 16 members, including representatives from the carbon capture industry, the Bureau of Economic Geology at The University of Texas at Austin, and environmental nonprofit organizations. The council's responsibilities include studying the development and reliability of carbon capture technology, monitoring emissions and energy use, coordinating with other agencies, developing a state oversight plan, and creating an online database of carbon capture projects in Texas. By September 1, 2026, the council must submit a report to the legislature with recommendations for regulatory and legislative changes, addressing issues such as fugitive emissions, groundwater contamination, legal liability, and barriers to implementation. The council will be abolished on January 1, 2032.