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ND SB2132

Bill

Status

Passed

3/20/2015

Primary Sponsor

Industry, Business and Labor Committee

Click for details

Origin

Senate

64th Legislative Assembly

AI Summary

  • Amends petroleum tank registration fees based on petroleum release compensation fund balance, evaluated after the close of each fiscal year and accounting of all expenses.

  • Sets annual registration fee at $50 per tank (aboveground or underground) as the base rate.

  • Increases registration fee to $100 per tank when fund balance falls below $6 million; fee reduces back to $50 when balance reaches $5.5 million or more.

  • Reduces registration fee to $5 per tank when fund balance exceeds $9 million; fee remains at $5 until balance no longer exceeds $9 million.

  • Expands state bonding fund to explicitly include assessments, interest, profits on investments, and all other income collected, all managed by the Insurance Commissioner.

Legislative Description

Petroleum tank registration fees and bonding fund investment income.

Last Action

Signed by Governor 03/19

3/20/2015

Committee Referrals

Industry, Business, and Labor1/6/2015

Full Bill Text

No bill text available