Current as of: 2010 (a) The Leaking Underground Storage Tank Cost Recovery
Fund is hereby created in the General Fund and the money in the fund
may be expended, upon appropriation by the Legislature, for the
purposes specified in subdivisions (c), (d), and (e).
(b) All of the following amounts shall be deposited in the Leaking
Underground Storage Tank Cost Recovery Fund:
(1) All money recovered pursuant to the federal act for purposes
of this chapter.
(2) Notwithstanding Section 16475 of the Government Code, all
interest earned upon any money deposited in the Leaking Underground
Storage Tank Cost Recovery Fund.
(3) Upon receipt of a written request from the board, the
Controller shall transfer to the Leaking Underground Storage Tank
Cost Recovery Fund the cash balance of the account in the Special
Deposit Fund, as specified in Section 16370 of the Government Code,
in which is deposited all money recovered pursuant to the federal
act.
(c) The board may expend the money in the Leaking Underground
Storage Tank Cost Recovery Fund for the purpose of taking any of the
following actions with respect to underground storage tanks
containing petroleum, as defined in the federal act:
(1) Enforcement activities.
(2) Corrective action and oversight.
(3) Cost recovery.
(4) Relocation of residents and provision of water supplies.
(5) Exposure assessments.
(d) The board may expend the money in the Leaking Underground
Storage Tank Cost Recovery Fund for administrative expenses related
to carrying out the activities specified in subdivision (c).
(e) The Controller may expend money in the Leaking Underground
Storage Tank Cost Recovery Fund, upon appropriation by the
Legislature, for the costs that are incurred on behalf of the
Controller for corrective action, as defined in Section 25299.14, at
the site located at 622 East Lindsay in the City of Stockton.
(f) After the corrective action at the site specified in
subdivision (e) is complete, in accordance with a uniform closure
letter issued pursuant to subdivision (g) of Section 25296.10, all
unencumbered funds in the Leaking Underground Storage Tank Fund, and
all net proceeds from the sale or other disposition of the site made
on behalf of the Controller, shall be transferred to the Underground
Storage Tank Cleanup Fund.
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