§ 13-23-7-1 — Purposes of ELTF; limit on payment of certain expenses; trust fund

(a) The 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 for underground petroleum storage tanks and aboveground
storage tanks.
(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 aboveground
storage tanks;
(C) establishing and implementing an online underground
storage tank and aboveground storage tank operator training
program that complies with the requirements of the federal
Energy Policy Act of 2005; and
(D) project management and oversight of eligible releases.
(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).]

Legislative History

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; P.L.176-2023, SEC.39.