TO: | Honorable Dennis Bonnen, Chair, House Committee on Environmental Regulation |
FROM: | John S. O'Brien, Director, Legislative Budget Board |
IN RE: | SB1671 by Averitt (Relating to the financial responsibility requirements applicable to owners or operators of certain underground storage tanks.), As Engrossed |
The bill would require insurance companies or other entities that provide financial assurance to underground storage tank owners/operators to notify the Texas Commission on Environmental Quality (TCEQ) if a policy is not renewed or is cancelled. The bill would also give the TCEQ authority to order an owner/operator of an underground storage tank that fails to maintain acceptable evidence of financial responsibility or assurance to place the tank out-of-service.
Passage of the bill could result in some increase in administrative costs to the TCEQ in implementing the provisions of the bill. However, these costs are not expected to be signficant.
Source Agencies: | 582 Commission on Environmental Quality
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LBB Staff: | JOB, WK, TL
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