The bill amends the Petroleum Storage Tank Trust Fund Act to increase the maximum amount of interim payments for corrective actions related to petroleum storage tank incidents. Specifically, it raises the cap from $1,500,000 to $2,000,000, allowing for a more substantial financial support for corrective measures.

Additionally, the bill stipulates that interim payments will cover up to 90% of the new maximum amount, with the remaining 10% being contingent upon the final payment for the corrective action. This change aims to enhance the financial resources available for addressing environmental issues stemming from petroleum storage tank failures.

Statutes affected:
HB 1383: 8-7-907(e)
Act 148: 8-7-907(e)