HB 58 -- PETROLEUM STORAGE TANKS (Treadway)

Under current law, to participate in the petroleum storage tank
insurance fund, owners of existing tanks must have applied for
participation by December 31, 1997.  This bill allows owners to
apply until December 31, 2000, if their tanks are on property
purchased before January 1, 1986, and the property was not used
for a gasoline filling station immediately before the purchase.

FISCAL NOTE:  No impact on state funds.

HB 58 -- PETROLEUM STORAGE TANKS

SPONSOR:  Treadway

COMMITTEE ACTION:  Voted "do pass by consent" by the Committee
on Environment and Energy by a vote of 17 to 0.

Under current law, to participate in the petroleum storage tank
insurance fund, owners of existing tanks must have applied for
participation by December 31, 1997.  This bill allows owners to
apply until December 31, 2000, if their tanks are on property
purchased before January 1, 1986, and the property was not used
for a gasoline filling station immediately before the purchase.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that before 1986, when searches of
old records were first required for property transactions,
purchasers may have been unaware of the presence of old storage
tanks on the property.  The bill provides a limited opportunity
for these property owners to participate in the petroleum
storage tank insurance fund.

Testifying for the bill was Representative Treadway.

OPPONENTS:  There was no opposition voiced to the committee.

Terry Finger, Senior Legislative Analyst

HB 58 -- Petroleum Storage Tanks

Sponsor:  Treadway

Under current law, to participate in the petroleum storage tank
insurance fund, owners of existing tanks must have applied for
participation by December 31, 1997.  This bill allows owners to
apply until December 31, 2000, if their tanks are on property
purchased before January 1, 1986, and the property was not used
for a gasoline filling station immediately before the purchase.