SCS/HB 58 - Under current law, to receive reimbursement from the Petroleum Storage Tank Insurance Fund for costs of cleaning up contamination from petroleum storage tanks, owners of existing tanks were required to have applied for participation by December 31, 1997. The act allows current owners of tanks located on property such owner purchased before December 31, 1985 to apply by June 30, 2000, and be eligible to receive contamination cleanup cost reimbursement from the Fund. No reimbursement shall be provided for cleanup costs at these sites which are incurred prior to August 28, 1999.

The act clarifies that moneys for cleanup of contamination from tanks taken out of service prior to December 31, 1997 shall be for releases from tanks which contained petroleum.

The act provides that school districts in third class counties with an assessed valuation which is less than $140 million shall be eligible for reimbursement of cleanup costs for contamination from petroleum storage tanks. This provision applies to a district in Iron County.

This act is similar to SCS/HCS/HBs 603, 722 & 783.
OTTO FAJEN