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 Underground
Storage Tanks (UST) 1998
Tank Upgrade Requirements
Financial Assurance/Surcharge
An additional operating requirement is
the maintenance of a financial assurance mechanism to provide
funds for the cleanup or mitigation of a discharge of hazardous
substances from a petroleum UST system. P.L. 1997, c.235
provides for an annual surcharge to be imposed upon the
owner or operator of a regulated facility which is required
to maintain financial responsibility in accordance with
either State or Federal law and who does not maintain that
financial responsibility. The annual surcharge shall be
$1,500 for facilities with one or two petroleum USTs; $3,500
for facilities with three to six petroleum USTs, and $6,000
for facilities with seven or more petroleum USTs.
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