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House panel adopts technical changes to Petroleum Storage Tank program, allows limited transfers to orphan-site cleanup fund
Summary
The Utah House Revenue and Taxation Committee on an unspecified date unanimously approved House Bill 18, the Petroleum Storage Tank Amendments, adopting a substitute and technical amendment to align regulation of above-ground and underground petroleum tanks and to permit limited transfers from the Petroleum Storage Tank fund to address orphan-site cleanups.
The Utah House Revenue and Taxation Committee on an unspecified date unanimously approved House Bill 18, the Petroleum Storage Tank Amendments, after adopting a first substitute and a technical amendment that align treatment of above-ground petroleum storage tanks (APSTs) with underground storage tanks (USTs) and create limited authority to transfer money for orphan-site cleanup.
The bill’s sponsor, Representative Eliason, told the committee the state created the Petroleum Storage Tank Fund decades ago to comply with federal rules requiring financial assurance for petroleum storage tanks, and that the fund is now actuarially sound. "This bill does not do anything to raise fees or taxes in this realm," Eliason said during the hearing.
Committee members and Department of Environmental Quality (DEQ) staff described HB 18 as largely clean-up language to make regulatory processes consistent between USTs and APSTs and to expand loan eligibility and…
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