75-11-313. Petroleum tank release cleanup fund. (1) There is a petroleum tank release cleanup fund in the state special revenue fund established in 17-2-102. The fund is administered as a revolving fund by the board and is statutorily appropriated, as provided in 17-7-502, for the purposes provided for under subsections (3)(b) and (3)(c). Administrative costs under subsection (3)(a) must be paid pursuant to a legislative appropriation.
     (2) There is deposited in the fund:
     (a) all revenue from the petroleum storage tank cleanup fee as provided in 75-11-314;
     (b) money received by the board in the form of gifts, grants, reimbursements, or appropriations, from any source, intended to be used for the purposes of this fund;
     (c) money appropriated or advanced to the fund by the legislature; and
     (d) all interest earned on money in the fund.
     (3) The fund may be used only:
     (a) to administer this part, including payment of board and department expenses associated with administration;
     (b) to reimburse owners and operators for eligible costs caused by a release from a petroleum storage tank and approved by the board; and
     (c) for repayment of any advance made under subsection (4), plus interest earned on the advance.
     (4) (a) The legislature may appropriate to the fund repayable advances as necessary to carry out the purposes of this part. The outstanding total of repayable advances may not exceed the amount the board estimates will be received by the fund from the petroleum storage tank cleanup fee during the next 24 months.
     (b) Advances to the fund must be repaid and interest earned on advances must be paid to the general fund when determined appropriate by the board. However, all advances to the fund plus the interest earned must be repaid on or before December 31, 1995.

     History: En. Sec. 6, Ch. 528, L. 1989; amd. Sec. 1, Ch. 543, L. 1993.