[Code of Federal Regulations]

[Title 40, Volume 26]

[Revised as of July 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 40CFR280.100]



[Page 539-540]

 

                   TITLE 40--PROTECTION OF ENVIRONMENT

 

         CHAPTER I--ENVIRONMENTAL PROTECTION 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



[[Page 540]]



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]