(a)There is hereby established as a segregated fund in the state treasury the Kansas essential fuels supply trust fund. The Kansas essential fuels supply trust fund is hereby redesignated as the UST redevelopment fund. The UST redevelopment fund shall be administered by the secretary. Revenue from the following sources shall be deposited in the state treasury and credited to the UST redevelopment fund:
(1)The applicable proceeds of the environmental assurance fee imposed by K.S.A. 65-34,117, and amendments thereto; and (2)interest attributable to investment of moneys in the UST redevelopment fund.
(b)The funds credited to the UST redevelopment fund may be expended to:
(1)Reimburse an eligible property owner in accordance with the provisions of K.S.A. 65-34,132, and amendments thereto, Free access — add to your briefcase to read the full text and ask questions with AI
(a) There is hereby established as a segregated fund in the state treasury the Kansas essential fuels supply trust fund. The Kansas essential fuels supply trust fund is hereby redesignated as the UST redevelopment fund. The UST redevelopment fund shall be administered by the secretary. Revenue from the following sources shall be deposited in the state treasury and credited to the UST redevelopment fund:
(1) The applicable proceeds of the environmental assurance fee imposed by K.S.A. 65-34,117, and amendments thereto; and
(2) interest attributable to investment of moneys in the UST redevelopment fund.
(b) The funds credited to the UST redevelopment fund may be expended to:
(1) Reimburse an eligible property owner in accordance with the provisions of K.S.A. 65-34,132, and amendments thereto, for allowable expenses for permanent closure of an abandoned underground storage tank;
(2) permit the secretary to conduct activities to permanently close an abandoned underground storage tank, if the underground storage tank owner or operator has not been identified or is unable or unwilling to perform permanent closure of the underground storage tank;
(3) reimburse an eligible owner of an underground storage tank in accordance with the provisions of K.S.A. 65-34,139, and amendments thereto, for allowable expenses for replacement and installation of all components of a single-wall underground storage tank system with a secondary containment system that complies with K.S.A. 65-34,138, and amendments thereto; or
(4) pay the administrative technical and legal costs incurred by the secretary in carrying out the provisions of this section and K.S.A. 65-34,132, and amendments thereto, including the cost of any additional employees or increased general operating costs of the department attributable thereto, which costs shall not be payable from any moneys other than those credited to the UST redevelopment fund.
(c) On or before the 10 th of each month, the director of accounts and reports shall transfer from the state general fund to the above UST redevelopment fund interest earnings based on:
(1) The average daily balance of moneys in the UST redevelopment fund for the preceding month; and
(2) the net earnings rate of the pooled money investment portfolio for the preceding month.
(d) All expenditures from the above UST redevelopment fund shall be made in accordance with appropriation acts upon warrants of the director of accounts and reports issued pursuant to vouchers approved by the secretary for the purposes set forth in this section.
(e) This section shall be part of and supplemental to the Kansas storage tank act.