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ACT NO. 59

(H.271)

Petroleum Cleanup Fund

Under existing law, up to $250,000.00 per year may be expended from the petroleum cleanup fund to finance measures related to aboveground petroleum storage tanks. This act allows the Secretary of Natural Resources to expend up to $500,000.00 from the fund for these purposes in fiscal year 2001, and expresses legislative intent that the ceiling shall revert to the statutory amount in future years. The act requires the secretary of natural resources, in consultation with others, to study and report back to specified legislative committees by January 15, 2002 with respect to: the prevention of contamination caused by aboveground tanks; the prevention of contamination through coordination with weatherization programs or other programs that involve the inspection of buildings; the alternative of requiring tank inspection as part of any real estate transaction transferring the property; alternative funding sources for these activities; and whether there should be a tank size limit, below which an aboveground petroleum tank would not be eligible for expenditures from the fund.

Effective Date: June 16, 2001