HB2949: Relating to financial assurance for certain facilities; prescribing an effective date.

Legislative Summary

This Act makes owners of bulk oils and liquid fuels terminals show they can cover the costs of oil or fuel spills. (Flesch Readability Score: 80.6). [Digest: This Act tells the DEQ to contract for a study about making bulk oils and liquid fuels terminal owners get bonds or insurance. (Flesch Readability Score: 61.6).] [Requires the Department of Environmental Quality to contract with a third party to study and assess financial assurance requirements for owners or operators of bulk oils and liquid fuels terminals. Directs the department to submit findings to the interim committees of the Legislative Assembly related to the environment no later than September 15, 2026.] [Sunsets on January 2, 2027.] Requires owners or operators of bulk oils or liquid fuels terminals to obtain a certificate of financial responsibility from the Department of Environmental Quality. Directs the Environmental Quality Commission to establish rules pertaining to certificates of responsibility. Requires the department to report to the Legislative Assembly on the implementation of the Act each even-numbered year. Preempts local governments from requiring financial assurance that exceeds or is in addition to the requirements of the Act. Takes effect on the 91st day following adjournment sine die.