SB 122

Under current law, the maximum amount of liability of the petroleum storage tank fund for an individual occurrence of a leak, spill, or release of a petroleum product from an underground storage tank (occurrence) is $2,000,000. The act allows an owner or operator of an underground or aboveground storage tank (owner or operator) to exceed this amount of liability with the permission of the director of the division of oil and public safety (director) and the petroleum storage tank committee (committee). If the director and the committee grant such permission, the director and committee shall establish a new maximum amount of liability per occurrence for the owner or operator. Under current law, all class I, II, and III liquid fuel products must comply with the most current applicable standards of ASTM International. The act allows the director to adopt a rule or issue policy guidance that provides exceptions to specific requirements established in an ASTM standard. (Note: This summary applies to this bill as enacted.)