(a) As soon as practicable, but not later than 3 months after the effective date of this Act, the Department shall adopt rules establishing minimum safety standards for underground natural gas storage facilities. Such rules shall be at least as inclusive, stringent, and compatible with the minimum safety standards adopted by the Secretary of Transportation under 49 U.S.C. § 60141. Thereafter, the Department shall maintain such rules so that the rules are at least as inclusive, stringent, and compatible with the minimum standards from time to time in effect under 49 U.S.C. § 60141.
     (b) Standards established under this Section may apply to the design, installation, inspection, testing, construction, extension, operation, replacement, and maintenance of underground natural gas storage facilities. In accordance with 49 U.S.C. § 60104(b), standards affecting the design, installation, construction, initial inspection, and initial testing are not applicable to underground natural gas storage facilities in existence on the date the standards are adopted. If the Department finds that a facility is hazardous to life or property, it may require the person operating the facility to take the steps necessary to remove the hazard.
     (c) Standards established by the Department under this Act shall, subject to subsections (a) and (b), be practicable and designed to meet the need for underground natural gas storage facility safety. In prescribing the standards, the Department shall consider 49 U.S.C. § 60141(b).