SB 0310 Revises expiration of Petroleum Storage Tank Insurance Fund and changes certain board functions
LR Number:0860S.02I Fiscal Note:0860-02
Committee:Commerce and Environment
Last Action:03/06/01 - Hearing Conducted S Commerce & Environment Committee Journal page:
Effective Date:August 28, 2001
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Current Bill Summary

SB 310 - This act will extend the existence of the petroleum storage tank insurance fund from 2003 to 2010 and will allow the Board of Trustees to function to resolve claims made prior to December 31, 2010. Subject to regulation of the Board, the act will allow owners and operators to continue participating in the fund even after they have transferred their property to another person. The act removes the requirement that the Board certify that the petroleum tanks are in compliance with technical standards established by the EPA and only requires the Board to certify compliance with rules established by DNR and the Department of Agriculture. The act would allow the Board to prioritize claims and expenditures for claims in consultation with DNR.

The method for the Board setting the rate of the surcharge is changed from being set by rule to being set in a public meeting with an opportunity for public comment. The act removes the requirement that a new owner pay the registration or participation fee at the next due date to continue eligibility and states that no new registration fee is required for a change of ownership.

Provisions similar to this act are contained in the TAT version of CCS/SS/SCS/HB 453 (2001).