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Business Taxes Law Guide – Revision 2022
 

Underground Storage Tank Maintenance Fee Law

Health and Safety Code

Division 20. Miscellaneous Health and Safety Provisions
Chapter 6.75. Petroleum Underground Storage Tank Cleanup

Article 6. Underground Storage Tank Cleanup Fund

Section 25299.51.3


25299.51.3. Study determining cost-effectiveness and feasibility of issuing bonds to satisfy fund obligations. (a) The board shall conduct a study to determine the cost-effectiveness and the feasability of issuing bonds to satisfy the obligations against the fund existing on the effective date of this section. The proceeds from the bonds would be used to expedite the payment of active claims and those claims on the priority list awaiting reimbursement. At a minimum, the study shall include participants from the board, the Department of Finance, the Treasurer's office, the California Infrastructure and Economic Development Bank, and fund stakeholders, including claimant and industry representatives.

(b) The board shall, on or before March 1, 2018, post a report of the study conducted pursuant to this section on the Board's Internet Web site.