There is created in the General Fund a restricted account known as the Petroleum Storage Tank Restricted Account.
Terms Used In Utah Code 19-6-405.5
Costs: means money expended for:
(a)
investigation;
(b)
abatement action;
(c)
corrective action;
(d)
judgments, awards, and settlements for bodily injury or property damage to third parties;
(e)
legal and claims adjusting costs incurred by the state in connection with judgments, awards, or settlements for bodily injury or property damage to third parties; or
(f)
costs incurred by the state risk manager in determining the actuarial soundness of the fund. See Utah Code 19-6-402
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
is a tank containing regulated substances that is voluntarily submitted for participation in the Petroleum Storage Tank Fund under Section 19-6-415. See Utah Code 19-6-402
All penalties and interest imposed under this part shall be deposited in this account, except as provided in Section 19-6-410.5. Specified program funds under this part that are unexpended at the end of the fiscal year lapse into this account.
(3)
The Legislature shall appropriate the money in the account to the department for the costs of administering the petroleum storage tank program under this part.
