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House Bill 2041


House Bill 2041

ARCHIVE (2001)

Latest Information

 

DIGEST OF HB2041 (Updated March 20, 2001 2:59 PM - DI 84)


Underground storage tanks. Repeals: (1) the underground storage tank guaranty fund; and (2) the underground storage tank loan guaranty and grant programs. Makes conforming amendments. Allows: (1) assignees of the right to receive money from the excess liability trust fund; and (2) subsequent owners of the property upon which tanks are located if the tanks were previously owned by eligible tank owners and operators; to receive money from the excess liability trust fund under certain circumstances. Requires the underground petroleum storage tank financial assurance board to adopt rules to determine eligibility to receive money from the fund for tank owners or operators that acquire ownership or operation of a tank as a result of an inheritance. Limits payments from the excess liability trust fund to $2,000,000 per occurrence. Prohibits an owner or operator of up to 100 tanks from receiving more than $2,000,000 from the excess liability trust fund during a year ($3,000,000 for an owner or operator of more than 100 tanks). Makes other changes to the law concerning the excess liability trust fund. Imposes a civil penalty on an owner of a tank who fails to pay the tank registration fee of not more than $2,000 per tank for each year that passes after the fee becomes due and before the fee is paid.
Current Status:
 Law Enacted
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