19-6-409. Petroleum Storage Tank Fund — Source of revenues.
(1)
Terms Used In Utah Code 19-6-409
Board: means the Waste Management and Radiation Control Board created in Section 19-1-106. See Utah Code 19-6-402
Bodily injury: means bodily harm, sickness, disease, or death sustained by a person. See Utah Code 19-6-402
Certified petroleum storage tank consultant: means a person who:
(i)
for a fee, or in connection with services for which a fee is charged, provides or contracts to provide information, opinions, or advice relating to underground storage tank release:
(A)
management;
(B)
abatement;
(C)
investigation;
(D)
corrective action; or
(E)
evaluation;
(ii)
has submitted an application to the director;
(iii)
received a written statement of certification from the director; and
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
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
Director: means the director of the Division of Environmental Response and Remediation. See Utah Code 19-6-402
Division: means the Division of Environmental Response and Remediation, created in Subsection 19-1-105(1)(c). See Utah Code 19-6-402
Facility: means the petroleum storage tanks located on a single parcel of property or on any property adjacent or contiguous to that parcel. See Utah Code 19-6-402
Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
Person: means an individual, trust, firm, estate, company, corporation, partnership, association, state, state or federal agency or entity, municipality, commission, or political subdivision of a state. See Utah Code 19-1-103
Petroleum: includes crude oil or a fraction of crude oil that is liquid at:
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
Property damage: means physical injury to, destruction of, or loss of use of tangible property. See Utah Code 19-6-402
Release: means spilling, leaking, emitting, discharging, escaping, leaching, or disposing a regulated substance from a petroleum storage tank into ground water, surface water, or subsurface soils. See Utah Code 19-6-402
Responsible party: is a s defined in Subsections (27)(a)(i), (ii), and (iii) does not include:
(i)
a person who is not an operator and, without participating in the management of a facility and otherwise not engaged in petroleum production, refining, and marketing, holds indicia of ownership:
(A)
primarily to protect the person's security interest in the facility; or
governmental ownership or control of property by involuntary transfers as provided in CERCLA Section 101(20)(D), 42 U. See Utah Code 19-6-402
Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
Underground storage tank: means a tank regulated under Subtitle I, Resource Conservation and Recovery Act, 42 U. See Utah Code 19-6-402
(a)
There is created an enterprise fund entitled the “Petroleum Storage Tank Fund.”
(b)
The sole sources of revenues for the fund are:
(i)
petroleum storage tank fees paid under Section 19-6-411;
(ii)
underground storage tank installation company permit fees paid under Section 19-6-411;
(iii)
the environmental assurance fee and penalties paid under Section 19-6-410.5;
(iv)
appropriations to the fund;
(v)
principal and interest received from the repayment of loans made by the director under Subsection (5); and
(vi)
interest accrued on revenues listed in this Subsection (1)(b).
(c)
Interest earned on fund money is deposited into the fund.
(2)
The director may expend money from the fund to pay costs:
environmental assurance program and fee under Section 19-6-410.5;
(c)
incurred by the state for a legal service or claim adjusting service provided in connection with a claim, judgment, award, or settlement for bodily injury or property damage to a third party;
(d)
incurred by the director in determining the actuarial soundness of the fund;
(e)
incurred by a third party claiming injury or damages from a release reported on or after May 11, 2010, for hiring a certified petroleum storage tank consultant:
(i)
to review an investigation or corrective action by a responsible party; and
(ii)
in accordance with Subsection (4); and
(f)
allowed under this part that are not listed under this Subsection (2).
(3)
Costs for the administration of the fund and the environmental assurance fee shall be appropriated by the Legislature.
(4)
The director shall:
(a)
in paying costs under Subsection (2)(e):
(i)
determine a reasonable limit on costs paid based on the:
(A)
extent of the release;
(B)
impact of the release; and
(C)
services provided by the certified petroleum storage tank consultant;
(ii)
pay, per release, costs for one certified petroleum storage tank consultant agreed to by all third parties claiming damages or injury;
(iii)
include costs paid in the coverage limits allowed under Section 19-6-419; and
(iv)
not pay legal costs of third parties;
(b)
review and give careful consideration to reports and recommendations provided by a certified petroleum storage tank consultant hired by a third party; and
(c)
make reports and recommendations provided under Subsection (4)(b) available on the Division of Environmental Response and Remediation’s website.
(5)
The director may loan, in accordance with this section, money available in the fund to a person to be used for:
(a)
upgrading an underground storage tank;
(b)
replacing an underground storage tank; or
(c)
permanently closing an underground storage tank.
(6)
(a)
A person may apply to the director for a loan under Subsection (5)(c) if all tanks owned or operated by that person are in substantial compliance with all state and federal requirements or will be brought into substantial compliance using money from the fund.
(b)
A person may apply to the director for a loan under Subsection (5)(a) or (b) if:
(i)
the requirements of Subsection (6)(a) are met; and
(ii)
the person participates in the Environmental Assurance Program under Section 19-6-410.5.
(7)
The director shall consider loan applications under Subsection (6) to meet the following objectives:
(a)
support availability of gasoline in rural parts of the state;
(b)
support small businesses; and
(c)
reduce the threat of a petroleum release endangering the environment.
(8)
(a)
A loan made under this section may not be for more than:
(i)
$300,000 for all tanks at any one facility;
(ii)
$100,000 per tank; and
(iii)
80% of the total cost of:
(A)
upgrading an underground storage tank;
(B)
replacing an underground storage tank; or
(C)
permanently closing an underground storage tank.
(b)
A loan made under this section shall:
(i)
have a fixed annual interest rate of 0%;
(ii)
have a term no longer than 10 years;
(iii)
be made on the condition the loan applicant obtains adequate security for the loan as established by board rule under Subsection (9); and
(iv)
comply with rules made by the board under Subsection (9).
The Legislature shall appropriate money from the fund to the department for the administration costs associated with making loans under this section.
(12)
The director may enter into an agreement with a public entity or private organization to perform a task associated with administration of loans made under this section.
