Montana Code 75-11-313. Petroleum tank release cleanup fund
75-11-313. Petroleum tank release cleanup fund. (1) There is a petroleum tank release cleanup fund in the state special revenue fund established in 17-2-102. The fund is administered as a revolving fund by the board and is statutorily appropriated, as provided in 17-7-502, for the purposes provided for under subsections (3)(c) and (3)(d). Administrative costs under subsections (3)(a) and (3)(b) must be paid pursuant to a legislative appropriation.
Terms Used In Montana Code 75-11-313
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)There is deposited in the fund:
(a)all revenue from the petroleum storage tank cleanup fee as provided in 75-11-314;
(b)money received by the board in the form of gifts, grants, reimbursements, or appropriations, from any source, intended to be used for the purposes of this fund;
(c)money appropriated or advanced to the fund by the legislature;
(d)money loaned to the board by the board of investments; and
(e)all interest earned on money in the fund.
(3)As provided in 75-11-318, the fund may be used only:
(a)to administer this part, including payment of board expenses associated with administration;
(b)to pay the actual and necessary department expenses associated with administration;
(c)to reimburse owners and operators for eligible costs caused by a release from a petroleum storage tank and approved by the board; and
(d)for repayment of any advance and any loan made pursuant to 17-6-225, plus interest earned on the advance or loan.
(4)Whenever the board accepts a loan from the board of investments pursuant to 17-6-225, the receipts from the fees provided for in 75-11-314 in each fiscal year until the loan is repaid are pledged and dedicated for the repayment of the loan in an amount sufficient to meet the repayment obligation for that fiscal year.