|Date Requested:February 07, 2014
Time Requested:09:06 AM
| FUND(S) |
Aboveground Storage Tank Administrative Fund; Leaking Aboveground Storage Tank Response Fund
Sources of Revenue
Legislation creates:A New Fund
Effect this measure will have on costs and revenues of state government.
| This Fiscal Note is for engrossed SB 373 ONLY. Other Bills relative to Aboveground Storage Tanks have been introduced and Fiscal Notes for those will be submitted upon request.
SB 373 creates a new program for regulation of certain aboveground storage tanks. This legislation authorizes the collection of fees and calls for the development of a new regulatory program.
Two (2) new Special Revenue funds are created by this bill.
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||314,932||755,715||755,715|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||930,715||930,715|
3. Explanation of above estimates (including long-range effect):
The bill creates a new program for regulation of select aboveground storage tanks statewide.
All estimates are based on 500 facilities to be inspected once every 3 years outside of Zones of Critical Concern (ZCC), 100 facilities to be inspected annually within the ZCC and review of Source Water
Protection Plans. Annual tank registration, review of Professional Engineer submittals, corrective actions, closures, financial assurance, rule development, etc. are required program components. Total estimated positions = 9 FTE.
Anticipated revenues include an annual fee in an amount sufficient to respond to any leaking aboveground storage tank(s). Estimated annual fees for the Leaking Aboveground Storage Tank Response Fund is $175,000. These fees may or may not be expended in any given year and are not reflected in the current expense category.
The actual number of regulated sites is currently UNKOWN at this time, so the 600 facilities mentioned above is an estimate.