Ohio Petroleum Underground Storage Tank Release Compensation Board

ABOUT THE BOARD

The Ohio Petroleum Underground Storage Tank Release Compensation Board (The Board) consists of government and industry representatives and has the primary responsibility of administering the Petroleum Financial Assurance Fund (“the Fund”). The Fund is a source of money derived from mandatory per-tank fees and is available to eligible underground storage tank owners to reimburse petroleum release clean up costs.

Please note:  the Board does not issue permits for tank removal, installation, or repair and does not supervise the clean up of releases.  Instead, these things are done by the Bureau of Underground Storage Tank Regulations (BUSTR), an agency under the Ohio State Fire Marshal’s authority.   

UPCOMING MEETINGS

The Board's next public meeting will be held on June 11, 2008 at 10:00 a.m. Click here for a schedule of the 2008 calendar year Board meetings. Minutes from previous meetings are available on the Meetings page.

RECENT DEVELOPMENTS

·  Board Seeking New Chief Financial Officer

The Petroleum Underground Storage Tank Release Compensation Board is currently seeking a new Chief Financial Officer. Click here to review the job posting.

·  Starr Richmond Appointed New Executive Director

The Petroleum Underground Storage Tank Release Compensation Board recently appointed Starr J. Richmond as Executive Director. Click here  for additional information.

  ·  Tank Fees to Remain Constant

At its November 2007 meeting, the Board voted to not increase tank fees in this upcoming program year (July 1, 2008 – June 30, 2009). Fees will remain at $600 per tank for coverage at the standard $55,000 deductible and $800 per tank for coverage at the $11,000 reduced deductible.

  ·  Considering Purchasing a Tank?

The Board passed a rule that requires the purchaser of underground storage tank(s) to pay a $500 per facility transfer fee plus any unpaid fees and/or penalties owed on the tank(s). Click here for more information about this rule as well as a list of items to consider before and after purchasing underground tanks.

  ·  BUSTR Happenings

BUSTR will be holding meetings about compliance with recent changes in the Federal Energy Bill. For more information, visit BUSTRs' website.

  ·  Unclaimed Funds

Check out our unclaimed funds list to see if you are entitled to a refund of fees!

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