SB1574 Summary

• For underground storage tank releases reported on or after January 1, 2022, owners/operators of registered tanks may access the Underground Storage Tank Fund without paying a deductible, while unregistered tanks face a $5,000 deductible.

• Fund payment determinations for registered tanks at or under budget must be completed within 30 days; if payment is not made within 30 days, the Fund must pay 2% monthly interest on unpaid amounts.

• Interest payments are suspended if the Underground Storage Tank Fund balance falls below $10,000,000 for 6 months or longer.

• For registered tanks with costs exceeding approved budgets, the Agency has 60 days to determine payment eligibility and 30 days to forward payment vouchers, with the same 2% monthly interest applying if full payment is not made within 30 days.

• Effective date is January 1, 2022.