49-1051 - Arizona Statutes

49-1051. The assurance account (Conditionally Rpld.) A. The assurance account of the underground storage tank revolving fund consists of underground storage tank tax revenues collected and distributed under section 49-1036, amounts reimbursed to the account by the department and any other monies designated for the account by the legislature. Monies from state appropriations shall not be used for administrative costs. B. Monies in the assurance account may be used by the director as follows: 1. To provide coverage for eligible costs. 2. To reimburse the department for the reasonable and necessary costs incurred by the department in administering the corrective action requirements of this chapter. When combined with monies used by the director pursuant to paragraph 3, beginning July 1, 2002, monies used by the director pursuant to this paragraph in a single year shall not exceed five million seven hundred thousand dollars or twenty-one per cent of the monies received by the assurance account in the previous fiscal year, whichever is greater. 3. To reimburse the department for the reasonable costs of administering the assurance account. The department shall not pay from the assurance account any costs, payments or other expenses that result from a contract awarded pursuant to this subsection unless the contract includes performance standards and contractual penalties for nonperformance or inadequate performance under the contract. When combined with monies used by the director pursuant to paragraph 2, beginning July 1, 2002, monies used by the director pursuant to this paragraph in a single year shall not exceed five million seven hundred thousand dollars or twenty-one per cent of the monies received by the assurance account in the previous fiscal year, whichever is greater. 4. To pay for the reasonable and necessary costs incurred by the department in taking corrective actions under section 49-1017. C. The director shall reimburse the assurance account for any corrective action costs which are paid out of the assurance account and are subsequently recovered by the department under section 49-1017.