To Amend The Petroleum Storage Tank Trust Fund Act; And To Modify The Amount Of The Payment For Corrective Action.
Summary
HB1383 amends the Arkansas Petroleum Storage Tank Trust Fund Act to increase the maximum amount available for interim corrective-action payments from 90% of $1.5 million to 90% of $2 million per occurrence. The bill keeps the existing structure that withholds the remaining 10% until final payment for the corrective action is made.
In practical terms, the measure raises the ceiling on early reimbursements or disbursements from the trust fund for cleanup and remediation tied to petroleum storage tank incidents. It does not change the underlying eligibility framework for corrective action payments, but it does expand the amount that can be advanced before final completion of the cleanup process.
Impact
The bill directly amends Arkansas Code § 8-7-907(e)(2)(C) within the Petroleum Storage Tank Trust Fund Act. Its main legal effect is to increase the interim payment cap for corrective action funding, which may affect tank owners, operators, environmental contractors, and claimants seeking reimbursement for petroleum release remediation. State fund administration would need to apply the higher interim limit while continuing to reserve the final 10% until completion of corrective action.
Sentiment
The available voting history suggests broad legislative support for the bill, with unanimous passage in the House (96-0) and near-unanimous passage in the Senate (28-1). No committee transcript is available, but the strong floor votes indicate the measure was generally viewed favorably and likely as a routine funding adjustment rather than a controversial policy change.
Contention
There is little evidence of significant controversy in the available record. The only notable point of potential concern is the increased exposure of the Petroleum Storage Tank Trust Fund to larger interim payments, which could matter to fund administrators or fiscal watchdogs focused on maintaining reserves. However, the overwhelming votes suggest any concerns about fund capacity, timing of reimbursements, or environmental cleanup financing did not generate substantial opposition.