HB1383

House Bill 1383 amends the Petroleum Storage Tank Trust Fund Act to increase the maximum allowable interim payment for corrective actions related to petroleum storage tank leaks. Specifically, the bill raises the cap for these payments from ninety percent of $1,500,000 to ninety percent of $2,000,000. The requirement that the remaining ten percent of funds be withheld until the final payment for corrective action is completed remains in place. The legislation serves to adjust the financial assistance limits provided to eligible parties responsible for addressing environmental contamination caused by petroleum storage systems.