Sec. 4. (a) The rules adopted under IC 13-23-1-2(c)(6) may require a minimum amount of coverage for particular classes or categories of underground storage tanks containing petroleum. Minimum coverage amounts established under this subsection must be at least one million dollars ($1,000,000) for each occurrence, with an appropriate aggregate amount.
(b) The board may by rule set minimum coverage amounts lower than the amount set forth in subsection (a) for underground storage tanks containing petroleum that are:
(1) not located at facilities engaged in the production, refining, or marketing of petroleum; and
(2) not used to handle substantial quantities of petroleum.
(c) In adopting rules establishing classes and categories of underground storage tanks containing petroleum for purposes of this section, the board may consider the following factors:
(1) The:
(A) size, type, location, storage, and handling capacity of underground storage tanks in the class or category; and
(B) volume of petroleum handled by those tanks.
(2) The:
(A) likelihood of release; and
(B) potential extent of damage from any release;
from underground storage tanks in the class or category.
(3) The economic impact of the limits on the owners and operators of each class or category, particularly relating to the small business segment of the petroleum marketing industry.
(4) The availability of methods of financial responsibility in amounts greater than the amount established by this section.
(5) Any other factors that the board considers pertinent.
[Pre-1996 Recodification Citation: 13-7-20-15.]
As added by P.L.1-1996, SEC.13.
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