[Code of Federal Regulations]
[Title 40, Volume 25]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 40CFR280.100]

[Page 489]
 
                   TITLE 40--PROTECTION OF ENVIRONMENT
 
                           AGENCY (CONTINUED)
 
PART 280_TECHNICAL STANDARDS AND CORRECTIVE ACTION REQUIREMENTS FOR OWNERS 
AND OPERATORS OF UNDERGROUND STORAGE TANKS (UST)--Table of Contents
 
                   Subpart H_Financial Responsibility
 
Sec. 280.100  Use of state-required mechanism.

    (a) For underground storage tanks located in a state that does not 
have an approved program, and where the state requires owners or 
operators of underground storage tanks to demonstrate financial 
responsibility for taking corrective action and/or for compensating 
third parties for bodily injury and property damage, an owner or 
operator may use a state-required financial mechanism to meet the 
requirements of Sec. 280.93 if the Regional Administrator determines 
that the state mechanism is at least equivalent to the financial 
mechanisms specified in this subpart.
    (b) The Regional Administrator will evaluate the equivalency of a 
state-required mechanism principally in terms of: certainty of the 
availability of funds for taking corrective action and/or for 
compensating third parties; the amount of funds that will be made 
available; and the types of costs covered. The Regional Administrator 
may also consider other factors as is necessary.
    (c) The state, an owner or operator, or any other interested party 
may submit to the Regional Administrator a written petition requesting 
that one or more of the state-required mechanisms be considered 
acceptable for meeting the requirements of Sec. 280.93. The submission 
must include copies of the appropriate state statutory and regulatory 
requirements and must show the amount of funds for corrective action 
and/or for compensating third parties assured by the mechanism(s). The 
Regional Administrator may require the petitioner to submit additional 
information as is deemed necessary to make this determination.
    (d) Any petition under this section may be submitted on behalf of 
all of the state's underground storage tank owners and operators.
    (e) The Regional Administrator will notify the petitioner of his 
determination regarding the mechanism's acceptability in lieu of 
financial mechanisms specified in this subpart. Pending this 
determination, the owners and operators using such mechanisms will be 
deemed to be in compliance with the requirements of Sec. 280.93 for 
underground storage tanks located in the state for the amounts and types 
of costs covered by such mechanisms.

[53 FR 43370, Oct. 26, 1988; 53 FR 51274, Dec. 21, 1988]