2016 Indiana Code TITLE 13. ENVIRONMENT ARTICLE 23. UNDERGROUND STORAGE TANKS CHAPTER 7. UNDERGROUND PETROLEUM STORAGE TANK EXCESS LIABILITY FUND
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IC 13-23-7
Chapter 7. Underground Petroleum Storage Tank Excess
Liability Fund
IC 13-23-7-1
Purposes of ELTF; limit on payment of certain expenses; trust
fund
Sec. 1. (a) The underground petroleum storage tank excess
liability trust fund (or ELTF) is established for the following
purposes:
(1) Assisting owners and operators of underground petroleum
storage tanks to establish evidence of financial responsibility as
required under IC 13-23-4.
(2) Providing a source of money to satisfy liabilities for
corrective action.
(3) Providing a source of money for the indemnification of third
parties under IC 13-23-9-3.
(4) Providing a source of money to pay for the expenses of the
department incurred in:
(A) paying and administering claims against the ELTF for
those job activities and expenses that consist exclusively of
administering the ELTF;
(B) inspecting underground storage tanks; and
(C) establishing and implementing an online underground
storage tank operator training program that complies with
the requirements of the federal Energy Policy Act of 2005.
(5) Providing a source of money to pay for the expenses of the
department incurred under section 7(b) of this chapter.
(b) The expenses described in subsection (a)(4) that are paid from
the ELTF in a state fiscal year may not exceed eleven percent (11%)
of the fund income in the immediately preceding state fiscal year.
(c) The ELTF is designated as a trust fund.
As added by P.L.1-1996, SEC.13. Amended by P.L.9-1996, SEC.5;
P.L.14-2001, SEC.4; P.L.114-2008, SEC.23; P.L.105-2011, SEC.2;
P.L.96-2016, SEC.12.
IC 13-23-7-2
Sources of money for ELTF
Sec. 2. Sources of money for the ELTF are the following:
(1) Appropriations from the general assembly.
(2) Gifts and donations intended for deposit in the fund.
(3) Inspection fees paid under IC 16-44-2.
(4) Bond revenue under IC 4-4-11.2-7(a)(1).
(5) Any other money authorized to be deposited in or
appropriated to the trust fund.
As added by P.L.1-1996, SEC.13. Amended by P.L.9-1996, SEC.6;
P.L.96-2016, SEC.13.
Indiana Code 2016
IC 13-23-7-3
Administration of ELTF
Sec. 3. The commissioner or the commissioner's designee shall
administer the ELTF.
As added by P.L.1-1996, SEC.13. Amended by P.L.9-1996, SEC.7;
P.L.96-2016, SEC.14.
IC 13-23-7-4
Expenses of administering UST law
Sec. 4. The expenses of administering the provisions of this article
that are funded by the ELTF, including:
(1) IC 13-23-8;
(2) IC 13-23-9;
(3) IC 13-23-11; and
(4) IC 13-23-12;
shall be paid from money in the ELTF.
As added by P.L.1-1996, SEC.13. Amended by P.L.9-1996, SEC.8;
P.L.14-2001, SEC.5; P.L.96-2016, SEC.15.
IC 13-23-7-5
Investments
Sec. 5. The treasurer of state shall invest the money in the ELTF
not currently needed to meet the obligations of the ELTF in the same
manner as other public money may be invested. Interest that accrues
from these investments shall be deposited in the ELTF. At least one
(1) time each year, the treasurer of state shall provide the financial
assurance board a report detailing the investments made under this
section.
As added by P.L.1-1996, SEC.13. Amended by P.L.9-1996, SEC.9;
P.L.96-2016, SEC.16.
IC 13-23-7-6
Reversion to general fund
Sec. 6. Money in the ELTF at the end of a state fiscal year does
not revert to the state general fund.
As added by P.L.1-1996, SEC.13. Amended by P.L.9-1996, SEC.10;
P.L.96-2016, SEC.17.
IC 13-23-7-7
Audit of ELTF; independent actuarial study
Sec. 7. (a) The state board of accounts shall audit the ELTF.
(b) Once every five (5) years, the department shall arrange for an
independent actuarial study examining the future obligations and
fiscal sustainability of the ELTF.
As added by P.L.9-1996, SEC.25. Amended by P.L.181-2015,
SEC.34; P.L.96-2016, SEC.18.
IC 13-23-7-8
Indiana Code 2016
Repealed
(As added by P.L.9-1996, SEC.26. Repealed by P.L.96-2016,
SEC.19.)
IC 13-23-7-9
Repealed
(As added by P.L.137-2007, SEC.25. Amended by P.L.158-2013,
SEC.192. Repealed by P.L.96-2016, SEC.20.)
IC 13-23-7-10
Repealed
(As added by P.L.19-2012, SEC.1. Amended by P.L.244-2013,
SEC.1. Repealed by P.L.96-2016, SEC.21.)
Indiana Code 2016
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