SB24-105 Summary

• Clarifies the petroleum storage tank fund surcharge threshold by changing language from "less than" to "less than OR EQUAL TO" twelve million dollars for the initial surcharge trigger.

• Establishes a lower surcharge threshold of eight million dollars effective September 1, 2033, with a twenty-five dollar per tank truckload fee when the fund balance falls to or below that amount.

• Repeals outdated fee distribution provisions (subsections 6(c) and 6(d)) covering the period from September 1, 2020 through October 1, 2023.

• Extends the fuel products manufacturer and distributor fee collection period through October 1, 2031, with annual review dates each October 1 starting October 1, 2023.

• Changes "who" to "that" throughout the statute for grammatical consistency in describing manufacturers and distributors subject to the fee.