The bill amends the Petroleum Storage Tank Trust Fund Act to increase the maximum amount available for interim payments for corrective actions related to petroleum storage tank incidents. Specifically, it raises the cap from $1.5 million to $2 million, allowing for a more substantial financial support for corrective measures.

Under the revised provisions, interim payments will cover up to 90% of the total costs incurred, with the remaining 10% being contingent upon the completion of the corrective action. This change aims to enhance the financial resources available for addressing environmental issues stemming from petroleum storage tank leaks and spills.

Statutes affected:
HB 1383: 8-7-907(e)