OK SB1874

Authorizes the Corporation Commission to reimburse tank owners or operators up to $4,000 per facility for suitability studies performed between July 1, 2008 and January 12, 2009.

Eligible applicants must meet specific criteria including: study was Commission-required, tank system was suitable for cathodic protection, facility was in substantial compliance with rules, and applicant owns/operates same facility when study was performed.

Denies reimbursement for failed studies, studies on leaking systems, non-compliant facilities, facilities under court order, or facilities with unpaid Commission fines as of study date.

Establishes $100,000 total cap on reimbursements from the Petroleum Storage Tank Indemnity Fund, distributed on first-come, first-served basis with 60-day processing period and January 1, 2011 application deadline.

Declares an emergency effective upon passage and approval.