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 $1,500,000 to $2,000,000, allowing for a more substantial financial response to necessary corrective actions.

Additionally, the bill stipulates that interim payments will cover up to 90% of the total costs, with the remaining 10% being contingent upon the final payment for the corrective action. This change aims to enhance the effectiveness of the fund in addressing environmental and safety concerns associated with petroleum storage tanks.

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