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AR HB1519

Bill

Official Source

Status

Passed

4/1/2021

Primary Sponsor

Les Eaves

Click for details

Origin

House of Representatives

93rd General Assembly (2021 Regular)

AI Summary

  • Amends Arkansas Code § 8-7-906(g)(2)(A) regarding the Petroleum Storage Tank Trust Fund balance threshold that triggers a reduction in the petroleum environmental assurance fee
  • Increases the fund balance threshold from $15,000,000 to $30,000,000 before the environmental assurance fee rate is reduced
  • When the fund balance reaches $30,000,000 (adjusted to reflect obligations and liabilities), the fee rate shall drop at the beginning of the next calendar quarter to a rate determined necessary by the Arkansas Pollution Control and Ecology Commission to maintain the $30,000,000 adjusted balance
  • Approved April 1, 2021

Legislative Description

To Amend The Petroleum Storage Tank Trust Fund Act; And To Increase The Balance Of The Petroleum Storage Tank Trust Fund Requiring A Reduction In The Petroleum Environmental Assurance Fee.

Last Action

Notification that HB1519 is now Act 509

4/1/2021

Committee Referrals

Public Health, Welfare And Labor3/8/2021
Public Health, Welfare and Labor2/22/2021

Full Bill Text

No bill text available