19-6-409 - Petroleum Storage Tank Trust Fund created -- Source of revenues.
19-6-409. Petroleum Storage Tank Trust Fund created -- Source of revenues.
(1) (a) There is created a private-purpose trust fund entitled the "Petroleum Storage TankTrust Fund."
(b) The sole sources of revenues for the fund are:
(i) petroleum storage tank fees paid under Section 19-6-411;
(ii) underground storage tank installation company permit fees paid under Section19-6-411;
(iii) the environmental assurance fee and penalties paid under Section 19-6-410.5; and
(iv) interest accrued on revenues listed in this Subsection (1)(b).
(c) Interest earned on fund money is deposited into the fund.
(2) The executive secretary may expend money from the fund to pay costs:
(a) covered by the fund under Section 19-6-419;
(b) of administering the:
(i) fund; and
(ii) environmental assurance program and fee under Section 19-6-410.5;
(c) incurred by the state for a legal service or claim adjusting service provided inconnection with a claim, judgment, award, or settlement for bodily injury or property damage to athird party;
(d) incurred by the state risk manager in determining the actuarial soundness of the fund;
(e) incurred by a third party claiming injury or damages from a release reported on orafter May 11, 2010, for hiring a certified underground storage tank consultant:
(i) to review an investigation or corrective action by a responsible party; and
(ii) in accordance with Subsection (4); and
(f) allowed under this part that are not listed under this Subsection (2).
(3) Costs for the administration of the fund and the environmental assurance fee shall beappropriated by the Legislature.
(4) The executive secretary shall:
(a) in paying costs under Subsection (2)(e):
(i) determine a reasonable limit on costs paid based on the:
(A) extent of the release;
(B) impact of the release; and
(C) services provided by the certified underground storage tank consultant;
(ii) pay, per release, costs for one certified underground storage tank consultant agreed toby all third parties claiming damages or injury;
(iii) include costs paid in the coverage limits allowed under Section 19-6-419; and
(iv) not pay legal costs of third parties;
(b) review and give careful consideration to reports and recommendations provided by acertified underground storage tank consultant hired by a third party; and
(c) make reports and recommendations provided under Subsection (4)(b) available on theDivision of Environmental Response and Remediation's website.
Amended by Chapter 186, 2010 General Session