Underground Storage Tanks

SECTION 17.   Subsection (C) of section 2 of chapter 21J of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by striking out the second sentence and inserting in place thereof the following 2 sentences:-

The department shall deposit the receipts from the delivery fee imposed under the first paragraph of subsection (A) in the following manner: (i) the first $30,000,000 in receipts in a fiscal year into the Underground Storage Tank Petroleum Product Cleanup Fund established in section 2XXXX of chapter 29; and (ii) the remainder into the Commonwealth Transportation Fund established in section 2ZZZ of chapter 29. The department shall deposit the receipts from the annual storage tank fee imposed under the second paragraph of said subsection (A) into the General Fund.
 
 

Summary:
This section would dedicate annually the first $30 million of revenue from the 2.5 cent per gallon underground storage tank fee to a re-created fund for underground storage tanks, to ensure that it continues to provide the assurance of financial stability for tank owners that the federal government requires.