10 §1020. Waste Motor Oil Revenue Fund
Title 10: COMMERCE AND TRADE
Part 2: BUILDING AND DEVELOPMENT
Chapter 110: FINANCE AUTHORITY OF MAINE
Subchapter 1-F: WASTE MOTOR OIL DISPOSAL SITE REMEDIATION PROGRAM
§1020. Waste Motor Oil Revenue Fund
1. Definitions. As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.
A. "Eligible person" means a person that is eligible, pursuant to section 1020-A, to have that person's share of response costs paid from the proceeds of revenue obligation securities issued pursuant to this subchapter. [2007, c. 464, §6 (NEW).]
A-1. "Bulk motor vehicle oil" means all motor vehicle oil other than prepackaged motor vehicle oil. [2007, c. 618, §2 (NEW).]
A-2. "Diesel engine bulk motor vehicle oil" means diesel engine bulk motor vehicle oil meeting the performance requirements of American Petroleum Institute CJ-4 standards and all preceding specifications under those standards, inclusive of all viscosity grades. [2007, c. 618, §3 (NEW).]
B. [2007, c. 618, §14 (AFF); 2007, c. 618, §4 (RP).]
C. "Fund" means the Waste Motor Oil Revenue Fund established under subsection 2 to be deposited with and administered by the authority. [2007, c. 464, §6 (NEW).]
C-1. "Gasoline engine bulk motor vehicle oil" means gasoline engine bulk motor vehicle oil meeting the performance requirements of American Petroleum Institute SM and International Lubricant Standardization and Approval Committee GF-4 standards and all preceding specifications under those standards, inclusive of all viscosity grades. [2007, c. 618, §5 (NEW).]
D. "Motor vehicle" has the same meaning as in Title 29-A, section 101, subsection 42. [2007, c. 464, §6 (NEW).]
E. [2007, c. 618, §14 (AFF); 2007, c. 618, §6 (RP).]
F. "Motor vehicle oil" means any lubricating oil that is reclaimable and classified for use in an internal combustion engine or the transmission, gear box, hydraulic reservoir or differential for a motor vehicle, including but not limited to natural, synthetic and rerefined motor oils, whether or not in retail containers. [2009, c. 213, Pt. KKK, §1 (AMD).]
G. "Motor vehicle oil dealer" means any person, firm or corporation engaged in the business of producing, packaging or otherwise preparing motor vehicle oil for market, or selling or distributing motor vehicle oil. [2007, c. 618, §8 (NEW).]
H. "Prepackaged motor vehicle oil" means motor vehicle oil sold in a container with a volume not in excess of 5 gallons. [2007, c. 618, §9 (NEW).]
[ 2009, c. 213, Pt. KKK, §1 (AMD) .]
2. Creation; sources of fund. The Waste Motor Oil Revenue Fund is established. The fund consists of:
A. All money appropriated for inclusion in the fund; [2007, c. 464, §6 (NEW).]
B. Subject to any pledge, contract or other obligation, all interest, dividends or other pecuniary gains from investment of money in the fund; [2007, c. 464, §6 (NEW).]
C. Any other money available to the authority and directed by the authority to be paid into the fund; and [2007, c. 464, §6 (NEW).]
D. All revenue received from the State Tax Assessor pursuant to former subsection 6 and subsection 6-A. [2009, c. 434, §1 (AMD); 2009, c. 434, §84 (AFF).]
[ 2009, c. 434, §1 (AMD); 2009, c. 434, §84 (AFF) .]
3. Application of fund. Money in the fund must be applied to the payment of principal of, interest on or redemption of premiums on revenue obligation securities issued pursuant to section 1020-A and may, in whole or in part, be pledged or transferred and deposited as security for those securities. Money in the fund not immediately needed to meet the obligations of the authority as provided for in this subsection may be invested in such a manner as permitted by law. Any reasonable costs incurred by the authority in administering this fund may be taken from the money in the fund.
[ 2007, c. 464, §6 (NEW) .]
4. Accounts within fund. The authority may divide the fund into separate accounts as it determines necessary or convenient for carrying out the purposes of this subchapter.
[ 2007, c. 464, §6 (NEW) .]
5. Revolving fund. The fund is a nonlapsing, revolving fund. All money in the fund must be continuously applied by the authority to carry out the purposes of this subchapter except as provided in subsection 3.
[ 2007, c. 464, §6 (NEW) .]
6. Premium.
[ 2007, c. 618, §10 (AMD); MRSA T. 10, §1020, sub-§6 (RP) .]
6-A. Premium. In addition to any other tax or charge imposed under state or federal law, a premium is imposed on bulk motor vehicle oil and prepackaged motor vehicle oil sold or distributed in the State as provided in this subsection. A motor vehicle oil dealer that makes the first sale or distribution of bulk motor vehicle oil or prepackaged motor vehicle oil in the State shall pay the premium. Gasoline engine bulk motor vehicle oils are subject to a premium of $1.10 per gallon. Diesel engine bulk motor vehicle oils are subject to a premium of 35¢ per gallon. Prepackaged motor vehicle oils are subject to a premium of 35¢ per gallon. All premiums must be paid to the State Tax Assessor and are subject to the administrative provisions of Title 36, Parts 1 and 3, as though they were a sales tax liability. By the 20th day of each month, the State Tax Assessor shall notify the State Controller and the Treasurer of State of the amount of revenue attributable to the premium collected under this subsection in the previous month. When notified by the State Tax Assessor, the State Controller shall transfer that amount to the fund. The premium imposed on prepackaged motor vehicle oil takes effect October 1, 2009.
[ 2009, c. 213, Pt. KKK, §2 (AMD) .]
7. Effective date. This section takes effect on October 1, 2007 and remains in effect until the later of June 30, 2018 and any date thereafter but no later than December 31, 2030 on which the authority notifies the State Tax Assessor that there are no outstanding revenue obligation securities that were issued pursuant to section 1020-A.
[ 2007, c. 618, §12 (AMD) .]
8. Successor standards. If either the Department of Environmental Protection or the Department of Agriculture, Food and Rural Resources learns of a successor standard to American Petroleum Institute SM or CJ-4 or International Lubricant Standardization and Approval Committee GF-4, that department shall notify the Finance Authority of Maine.
[ 2007, c. 618, §13 (NEW) .]
SECTION HISTORY
2007, c. 464, §6 (NEW). 2007, c. 618, §§2-13 (AMD). 2007, c. 618, §14 (AFF). 2009, c. 213, Pt. KKK, §§1, 2 (AMD). 2009, c. 434, §1 (AMD). 2009, c. 434, §84 (AFF). MRSA T. 10, §1020, sub-§6 (AMD).