UST Financial Assurance Information

Description

Subtitle I of the Resource Conservation and Recovery Act, as amended by the Hazardous Waste Disposal Act of 1984, brought underground storage tanks (USTs) under federal regulation. As part of that regulation, Congress directed EPA to develop financial responsibility regulations for UST owners and operators. Congress wanted owners and operators of underground storage tanks (USTs) to show that they have the financial resources to clean up a site if a release occurs, correct environmental damage, and compensate third parties for injury to their property or themselves. Owners and operators have several options: obtain insurance coverage from an insurer or a risk retention group; demonstrate self-insurance using a financial test; obtain corporate guarantees, surety bonds, or letters of credit; place the required amount into a trust fund administered by a third party; or rely on coverage provided by a state financial assurance fund. Information in this data asset includes state documentation to support this requirement. Many states have developed financial assurance funds to help owners and operators meet financial responsibility requirements and to help cover the costs of cleanups. State financial assurance fund programs, which supplement or are a substitute for private insurance, have been especially useful for small-to-medium sized petroleum marketers. EPA requires its Regional Offices to conduct annual reviews of state financial assurance funds. Data is provided by states, and reviewed by EPA, to determine financial soundness as follows: 1. How quickly each state's fund is reducing its federally-regulated, fund-eligible cleanup backlog. 2. Whether the fund currently has enough resources to address its backlog. 3. Whether the fund will continue to have adequate resources to continue to reduce its backlog in the future. 4. Whether there are any major or pending changes to the fund. EPA has the option of withdrawing fund approval, in which case the Agency works with the state to ensure that UST owners and operators have obtained an alternative financial responsibility mechanism. All documentation for these reviews, and subsequent decisions and actions, are maintained at the Regional Offices.

General Information

• This data is described at

  http://catalog.data.gov/dataset/ust-financial-assurance-information Do you think this data is incorrect? Let us know

• This data is published by

  U.S. Environmental Protection Agency Do you think this data is incorrect? Let us know

Legal Information

• The rights statement is at

  http://catalog.data.gov/dataset/ust-financial-assurance-information Do you think this data is incorrect? Let us know

• Outside the US, this data is available under

  Creative Commons CCZero Do you think this data is incorrect? Let us know

• There are

  yes, and the rights are all held by the same person or organisation Do you think this data is incorrect? Let us know

• The content is available under

  Creative Commons CCZero Do you think this data is incorrect? Let us know

• This data contains

  no data about individuals Do you think this data is incorrect? Let us know

Practical Information

• The data appears in this collection

  http://catalog.data.gov/organization/epa-gov Do you think this data is incorrect? Let us know

• The accuracy or relevance of this data will

  go out of date but it is timestamped Do you think this data is incorrect? Let us know

• The data is

  backed up offsite Do you think this data is incorrect? Let us know

Technical Information

• This data is published at

  http://www.epa.gov/oust/ustsystm/finresp.htm Do you think this data is incorrect? Let us know

• The format of this data is

  a standard open format Do you think this data is incorrect? Let us know

Social Information

• The documentation includes machine-readable data for

  title Do you think this data is incorrect? Let us know

• The documentation includes machine-readable data for

  description Do you think this data is incorrect? Let us know

• The documentation includes machine-readable data for

  identifier Do you think this data is incorrect? Let us know

• The documentation includes machine-readable data for

  landing page Do you think this data is incorrect? Let us know

• The documentation includes machine-readable data for

  release frequency Do you think this data is incorrect? Let us know

• The documentation includes machine-readable data for

  publisher Do you think this data is incorrect? Let us know

• The documentation includes machine-readable data for

  distribution(s) Do you think this data is incorrect? Let us know

• The documentation includes machine-readable data for

  release date Do you think this data is incorrect? Let us know

• The documentation includes machine-readable data for

  modification date Do you think this data is incorrect? Let us know

• The documentation includes machine-readable data for

  temporal coverage Do you think this data is incorrect? Let us know

• The documentation includes machine-readable data for

  spatial/geographical coverage Do you think this data is incorrect? Let us know

• The documentation about each distribution includes machine-readable data for

  title Do you think this data is incorrect? Let us know

• The documentation about each distribution includes machine-readable data for

  description Do you think this data is incorrect? Let us know

• The documentation about each distribution includes machine-readable data for

  release date Do you think this data is incorrect? Let us know

• The documentation about each distribution includes machine-readable data for

  a URL to access the data Do you think this data is incorrect? Let us know

• The documentation about each distribution includes machine-readable data for

  a URL to download the dataset Do you think this data is incorrect? Let us know

• Find out how to contact someone about this data at

  http://catalog.data.gov/dataset/ust-financial-assurance-information Do you think this data is incorrect? Let us know

• Find out how to suggest improvements to publication at

  http://www.data.gov/issue/?media_url=http://catalog.data.gov/dataset/ust-financial-assurance-information Do you think this data is incorrect? Let us know