Sec. 1. (a) The underground petroleum storage tank excess liability trust fund (or ELTF) is established for the following purposes:
(1) Assisting owners and operators of underground petroleum storage tanks to establish evidence of financial responsibility as required under IC 13-23-4.
(2) Providing a source of money to satisfy liabilities for corrective action.
(3) Providing a source of money for the indemnification of third parties under IC 13-23-9-3.
(4) Providing a source of money to pay for the expenses of the department incurred in:
(A) paying and administering claims against the ELTF for those job activities and expenses that consist exclusively of administering the ELTF;
(B) inspecting underground storage tanks; and
(C) establishing and implementing an online underground storage tank operator training program that complies with the requirements of the federal Energy Policy Act of 2005.
(5) Providing a source of money to pay for the expenses of the department incurred under section 7(b) of this chapter.
(b) The expenses described in subsection (a)(4) that are paid from the ELTF in a state fiscal year may not exceed eleven percent (11%) of the fund income in the immediately preceding state fiscal year.
(c) The ELTF is designated as a trust fund.
[Pre-1996 Recodification Citation: 13-7-20-31(a).]
As added by P.L.1-1996, SEC.13. Amended by P.L.9-1996, SEC.5; P.L.14-2001, SEC.4; P.L.114-2008, SEC.23; P.L.105-2011, SEC.2; P.L.96-2016, SEC.12.