| SB 0661 | Revises provisions regarding the petroleum storage tank insurance fund |
| Sponsor: | Caskey | |||
| LR Number: | L2707.01P | Fiscal Note: | 2707-01 | |
| Committee: | Commerce and Environment | |||
| Last Action: | 04/22/98 - Reported Do Pass H Commerce Committee | Journal page: | H1235 | |
| Title: | ||||
| Effective Date: | August 28, 1998 | |||
SB 661 - This act revises some provisions of the "Petroleum Storage Tank Insurance Fund".
Persons owning or operating an underground storage tank and who wish to participate in the Petroleum Storage Tank Insurance Fund and whose tank comes into service after August 28, 1998 (previously August 28, 1989) must pay one hundred dollars per tank. This fee is a one-time payment and is in addition to the annual payments required by Section 319.133, RSMo. The same fee provisions will apply to above ground storage tanks. At the present time the fees are remitted to the Department of Natural Resources within thirty days of the tank's initial use. This act requires tank owners or operators to send the fees to the Board of Trustees of the Petroleum Storage Tank Insurance Fund with the initial application of the owner or operator.
This act also provides that the fund will provide the defense of eligible third-party claims, including the negotiation of any settlement.
At the present time the Petroleum Storage Tank Insurance
Fund will expire on December 31, 1998. This is extended until
December 31, 2003.
OTTO FAJEN