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1996 SESSION

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964927152
HOUSE BILL NO. 591 Offered January 19, 1996 A BILL to amend the Code of Virginia by adding sections numbered 62.1-44.34:8.1 and 62.1-44.34:10.1, relating to underground storage tank security interest exemptions. ----------
Patrons-- Clement, Albo, Behm, Deeds, Dudley, Guest, Parrish, Puller, Robinson and Thomas
---------- Referred to Committee on Conservation and Natural Resources ----------

Be it enacted by the General Assembly of Virginia:

1. That the Code of Virginia is amended by adding sections numbered 62.1-44.34:8.1 and 62.1-44.34:10.1 as follows:

§ 62.1-44.34:8.1. Security interest exemption.

A holder of a security interest as defined in 40 C.F.R. 280.200 who satisfies the conditions set forth in 40 C.F.R. Part 280 Subpart I (§ 280.200 et seq.), as the same may be amended, shall not be considered either an owner or an operator of an underground storage tank containing petroleum for purposes of compliance with this article.

§ 62.1-44.34:10.1 Security interest exemption.

A holder of a security interest as defined in 40 C.F.R. 280.200 who satisfies the conditions set forth in 40 C.F.R. Part 280 Subpart I (§ 280.200 et seq.), as the same may be amended, shall not be considered either an owner or an operator of an underground storage tank containing petroleum for purposes of this article.