49-1015.01 - Arizona Statutes

49-1015.01. Regulated substance fund; purpose A. A regulated substance fund is established. The director shall administer the fund. Monies in the fund are exempt from the provisions of section 35-190 relating to lapsing of appropriations. On notice from the director, the state treasurer shall invest and divest monies in the fund as provided in section 35-313, and monies earned from investment shall be credited to the fund. B. The regulated substance fund consists of monies appropriated by the legislature, underground storage tank tax revenues, assurance account monies encumbered by the director for implementing work plans and corrective action plans in which monitored natural attenuation is all or a portion of the selected remedy, monies reimbursed to the fund and gifts, grants and donations. C. Monies in the fund shall be used for releases from underground storage tanks. Monies in the fund are continuously appropriated and shall be used at sites selected based on an analysis of risk to human health and the environment by the director as follows: 1. For the reasonable and necessary costs of administering and taking corrective actions of regulated substances if the department cannot locate an owner or operator of the underground storage tank within ninety days or within such shorter period as necessary to protect human health or the environment. 2. Notwithstanding paragraph 1, for the reasonable and necessary costs of taking corrective actions of regulated substances. D. Monies in the fund may also be used for corrective actions related to a work plan or corrective action plan approved by the department before July 1, 2010 in which monitored natural attenuation is all or a portion of the selected remedy, including corrective actions at sites at which monitored natural attenuation is not adequate. Monies for monitored natural attenuation shall be deposited in the monitored natural attenuation account of the fund and shall only be used for those purposes. E. Monies in the fund shall not be used to implement the water quality assurance revolving fund program pursuant to chapter 2, article 5 of this title.