There Is a Newer Version
of
the Utah Code
2006 Utah Code - 19-6-409 — Petroleum Storage Tank Trust Fund created -- Source of revenues.
19-6-409. Petroleum Storage Tank Trust Fund created -- Source of revenues.
(1) (a) There is created a private-purpose trust fund entitled the "Petroleum Storage Tank Trust Fund."
(b) The sole sources of revenues for the fund are:
(i) petroleum storage tank fees under Section 19-6-411;
(ii) underground storage tank installation company permit fees under Section 19-6-411;
(iii) the environmental assurance fee and any penalties, paid under Section 19-6-410.5; and
(iv) any interest accrued on these revenues.
(c) Interest earned on fund monies shall be deposited into the fund.
(2) Fund monies may be used to pay:
(a) costs as provided in Section 19-6-419; and
(b) for the administration of the fund and the environmental assurance program and fee under Section 19-6-410.5.
(3) Costs for the administration of the fund and the environmental assurance fee shall be appropriated by the Legislature.
(4) The executive secretary may expend monies from the fund for:
(a) legal and claims adjusting costs incurred by the state in connection with claims, judgments, awards, or settlements for bodily injury or property damage to third parties;
(b) costs incurred by the state risk manager in determining the actuarial soundness of the fund; and
(c) other costs as provided in this part.
(1) (a) There is created a private-purpose trust fund entitled the "Petroleum Storage Tank Trust Fund."
(b) The sole sources of revenues for the fund are:
(i) petroleum storage tank fees under Section 19-6-411;
(ii) underground storage tank installation company permit fees under Section 19-6-411;
(iii) the environmental assurance fee and any penalties, paid under Section 19-6-410.5; and
(iv) any interest accrued on these revenues.
(c) Interest earned on fund monies shall be deposited into the fund.
(2) Fund monies may be used to pay:
(a) costs as provided in Section 19-6-419; and
(b) for the administration of the fund and the environmental assurance program and fee under Section 19-6-410.5.
(3) Costs for the administration of the fund and the environmental assurance fee shall be appropriated by the Legislature.
(4) The executive secretary may expend monies from the fund for:
(a) legal and claims adjusting costs incurred by the state in connection with claims, judgments, awards, or settlements for bodily injury or property damage to third parties;
(b) costs incurred by the state risk manager in determining the actuarial soundness of the fund; and
(c) other costs as provided in this part.
Amended by Chapter 256, 2002 General Session
Disclaimer: These codes may not be the most recent version. Utah may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
