CO HB1299

Allows petroleum storage tank fund moneys to be used as incentives for underground and aboveground storage tank owners and operators for significant operational compliance or system upgrades.

Defines "significant operational compliance" as an owner or operator in full compliance with all article requirements who has prevented or reduced the threat of environmental release through one or more best management practices not otherwise required.

Requires the Director of the Division of Oil and Public Safety to promulgate rules implementing the incentive program.

Takes effect August 5, 2015, unless a referendum petition is filed, in which case it requires voter approval at the November 2016 general election.

Applies to conduct occurring on or after the applicable effective date.