The bill establishes a state financial assurance program for petroleum underground storage tanks in Washington, aimed at safeguarding public health and the environment from petroleum releases. Administered by the pollution liability insurance agency, the program emphasizes prevention, incident response, and remediation, particularly in marginalized communities. Key provisions include definitions related to the program, eligibility criteria for owners and operators, and available financial assurances for remedial actions and third-party claims. The agency is empowered to conduct assessments, prioritize funding based on health and environmental risks, and establish fees for program administration.

Additionally, the bill introduces new liability limitations for the agency and the state concerning costs for remedial actions and third-party claims, stating that they are not liable for payments if the pollution liability insurance program trust account lacks sufficient funds. It prioritizes payments for releases posing imminent threats to health and the environment and grants civil immunity to agency officials for actions taken under this chapter. The bill also amends existing tax provisions related to petroleum products, maintaining a tax rate of thirty-one hundredths of one percent while removing a previous tax reduction set for after July 1, 2021. It clarifies funding sources for the pollution liability insurance program trust account and establishes a sunset provision for the chapter, set to expire on July 1, 2030.

Statutes affected:
Original Bill: 82.23A.020