(a) The commission, in implementing the Performance Standards for Safety at Storage Vessels Program under § 26.3442, may approve exemption of specific storage vessels otherwise subject to § 26.3442 from regulation under the program if the legal owner or operator submits a request to the commission demonstrating that the vessel presents a sufficiently low risk of floods, storm surges, hurricanes, accidents, fires, explosions, or other hazards such that it does not warrant regulation under the program.
(b) The commission shall establish through rulemaking the effective date of a federal law or regulation that the commission is implementing under § 26.3442(d), or a national consensus standard that the commission is implementing under § 26.3442(e). The commission shall amend through rulemaking changes if a federal law or regulation or national consensus standard is amended in a way that materially conflicts with the commission’s current implementation of the Performance Standards for Safety at Storage Vessels Program except to the extent that the commission determines, after a cost-benefit analysis and if not prohibited under federal law, that the program as currently implemented by the commission is sufficiently effective for protection of the health, safety, and welfare of the citizens of this state.

(c) Notwithstanding the requirement of § 26.3442(e) that the commission include only critical safety elements from specified national consensus standards, the commission may initiate a rulemaking proceeding to determine whether, for certain vessels in certain situations, an alternative national consensus standard would be at least as effective for public health and safety but more cost effective for the persons affected to implement. The commission may by rule apply the alternative national consensus standard in circumstances under which it has determined the alternative standard is as effective for public health and safety but more cost effective.