§2806. Barnwell potential liability fund

Link to law: http://legislature.vermont.gov/statutes/section/03/051/02806
Published: 2015

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Title

03

:
Executive






Chapter

051

:
NATURAL RESOURCES






Subchapter

001
:
GENERALLY










 

§

2806. Barnwell potential liability fund

(a) There is

hereby created a Barnwell potential liability fund in the state treasury. The

fund shall be separately maintained and accounted for by the state treasurer

and administered by the agency of natural resources. Expenditures from the fund

shall be made after obtaining approval of the attorney general, for the purpose

of paying:

(1) any final

determinations of liability, or negotiated settlements, on the part of the

state or of any agency, subdivision or entity of the state, arising out of

activities under any interstate agreement, relating to the Southeast Compact

Commission's regional facility in Barnwell County, South Carolina, ratified,

adopted or approved according to the requirements of Sec. 2 of Act No. 296 of

the Acts of the 1989 Adjourned Session of the general assembly, and

(2) any costs of

the state or of any agency, subdivision or entity of the state, related to the

process of determining liability or the process of arriving at a negotiated settlement.

(b) All interest

earned by the fund shall remain in the fund and shall not revert to the general

fund.

(c) The fund

shall be in the form of cash sufficient to provide protection to the state in

the amount of $50,000.00 in 1994 dollars. The monies shall be provided by no

later than January 1, 2012, or six months prior to the time the largest

generator ceases to exist, whichever comes first, by the generators of

low-level radioactive waste who are authorized to use the Barnwell facility

under the contract for access, approved by the general assembly for the period

from January 1, 1993 through June 30, 1994, in proportion to the amounts of

waste to be disposed of at the facility during the term of the interstate

agreement. If the secretary determines that the level of protection provided

under this section is not adequate, the secretary shall make appropriate

recommendations to the general assembly. (Added 1993, No. 76, § 4.)
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