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1999 SESSION

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HB 1859 Petroleum storage tank fee.

Introduced by: Harry J. Parrish | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Petroleum storage tank fee. Changes the threshold amount that has to be maintained in the Virginia Petroleum Storage Tank Fund before the fee on motor and heating fuels can be decreased. Currently, a fee of one-fifth of one cent on each gallon of various motor and home heating fuels is imposed on dealers and suppliers of these fuels. The fees collected are deposited in the Fund to be used in cleaning up spills from leaking aboveground and underground petroleum tanks. When the balance in the Fund is likely to or has fallen below $3 million, the fee is increased to three-fifths of one cent per gallon, until the Fund reaches $6 million, whereupon the fee reverts to one-fifth of one cent. This bill would keep the three-fifths of one cent fee in place until the Fund reaches $12 million (as opposed to the current $6 million trigger), at which time the fee would then be reduced to one-fifth of one cent per gallon.


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