TITLE 46

Waters and Navigation

CHAPTER 46-12.9

Rhode Island Underground Storage Tank Financial Responsibility Act

SECTION 46-12.9-2



   § 46-12.9-2  Legislative findings. –

The general assembly finds: (1) That a state administered underground storage

tank (UST) clean-up fund is needed to provide an effective mechanism for USTs

owners to comply with financial responsibility requirements and to insure that

the environmental and public health impacts of UST leaks are addressed in an

effective and timely manner.



   (2) Certain tank owners must be able to demonstrate one

million dollars ($1,000,000) of liability coverage to satisfy the United States

Environmental Protection Agency (EPA) (40 CFR Part 280.90 et seq., as published

in the Federal Register dated October 26, 1988 and by Final Rule dated February

18, 1993). Specifically the EPA requirement is that certain tank owners must

demonstrate financial responsibility of up to one million dollars ($1,000,000)

per incident and up to two million dollars ($2,000,000) in the aggregate for

damages. Failure by the state to create a state-sponsored fund will result in

enforcement action by the EPA which can include both financial penalties

against tank owners and closure of tanks, if the owner fails to demonstrate

financial responsibility.



   (3) The Rhode Island economic development corporation

recently concluded that failure by the state of Rhode Island to enact a state

fund will adversely impact the state's economy by eighteen million dollars

($18,000,000) annually.



History of Section.

(P.L. 1994, ch. 144, § 1; P.L. 2001, ch. 328, § 1.)