Oklahoma House Bill HB3140

Oklahoma 2024 Regular Session

• Introduced: 2/5/24
• Refer: 2/6/24

Caption

Petroleum storage tanks; modifying list of allowable expenditures; effective date.

Impact

This bill aims to enhance the efficiency and effectiveness of the Petroleum Storage Tank Indemnity Fund by clarifying the purpose and use of the funds, streamlining the reimbursement process for eligible individuals. It proposes that the fund solely supports the identification of leaks, administration of the fund, and necessary corrective actions, thus ensuring that issues relating to petroleum storage and their environmental impacts are adequately addressed. Furthermore, by limiting the breadth of financial responsibilities associated with the Indemnity Fund, the bill aims to mitigate the financial burden on the state while ensuring that protective measures for environmental safety remain intact.

Summary

House Bill 3140 seeks to amend existing provisions related to the Petroleum Storage Tank Indemnity Fund in Oklahoma. The bill outlines specific expenditures that can be covered by the fund, which is designed to assist eligible persons facing costs associated with the identification and remediation of petroleum releases. Modifications include details on reimbursement processes for administrative costs of the Petroleum Storage Tank Division, as well as costs associated with corrective actions and site assessments related to identified leaks.

Contention

Discussions around HB3140 may touch upon concerns regarding the adequacy of funds available for environmental remediation efforts and the implications of restricting access to the reimbursements from the state. Critics may argue that limiting expenditures to narrowly defined purposes could hinder local efforts to manage environmental crises effectively. Proponents, however, may emphasize that the focused approach is necessary to safeguard public and environmental health while ensuring accountability in fund usage.