Utah

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Legislative & Regulatory Issues

HB120 Underground Storage Tank Amendments

2010

HB120 Underground Storage Tank Amendments, is sponsored by Rep. Kay McIff, and if passed, will increase the coverage limits for PST Fund participants from $1 million to $2 million per release.

Rep. McIff wants the coverage limits to apply retroactively to all sites (currently there are seven) that are still open and have exceeded the $1 million cap. Last year?s DERR actuarial study predicts that the fund will maintain a positive cash balance even with retroactive application of coverage limits.

Additionally, the bill will increase the PST Loan Fund limits from $15,000 per tank and $45,000 per site to $50,000 per tank and $150,000 per site.

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