Loading chat...

AR HB1520

Bill

Official Source

Status

Passed

3/30/2023

Primary Sponsor

Jack Ladyman

Click for details

Origin

House of Representatives

94th General Assembly (2023 Regular)

AI Summary

  • Amends Arkansas Code § 8-7-907(b) to increase the payment limit for petroleum storage tank corrective action from $1,500,000 to $2,000,000 per occurrence
  • Declares an emergency based on inflation increasing 61.30% since the original corrective action cap was set in 2003, making the previous limit no longer actuarially sound
  • Prevents underground storage tank owners from having to obtain unaffordable insurance coverage for cleanups
  • Takes effect immediately upon Governor approval, expiration of veto period, or veto override
  • Was approved by the Governor on March 30, 2023

Legislative Description

To Amend The Petroleum Storage Tank Trust Fund Act; To Amend The Payment Limit Per Occurrence For Corrective Action; And To Declare An Emergency.

Last Action

Notification that HB1520 is now Act 422

3/30/2023

Committee Referrals

Public Health, Welfare And Labor3/8/2023
Public Health, Welfare and Labor3/1/2023

Full Bill Text

No bill text available