Underground Storage Tank Assistance and Groundwater Protection Act

Summary

Underground Storage Tank Assistance and Groundwater Protection Act - Amends the Solid Waste Disposal Act to authorize the Administrator of the Environmental Protection Agency to guarantee principal and interest on loans made to eligible small businesses for the closure, replacement, upgrade, and release detection of underground storage tanks. Sets forth amounts and conditions of such guarantees. Makes eligible for such guarantees persons owning up to 12 underground storage tanks. Permits the Administrator, on a case-by-case basis, to allow persons owning up to 99 tanks to be eligible for such guarantees if they meet this Act's requirements and such assistance will increase environmental protection. Permits the Administrator to make principal and interest payments on behalf of the borrower if: (1) the borrower is unable to make such payment and it is in the public interest to continue the activity; and (2) the probable net cost to the Government in making such payments would be less than that resulting from the borrower's default. Authorizes the Administrator, in the event of a default by a borrower, to make payments in accordance with the guarantee. Requires the Attorney General to recover payments from the defaulting borrower. Authorizes the Administrator, for the same purposes for which loan guarantees may be made, to make grants to an eligible small business if: (1) the business is an essential community service; (2) at least three private lending institutions have declined to provide a loan for such purposes; and (3) a significant threat to human health and the environment is present. Sets forth limitations on the amounts of such grants. Terminates the authority to make loan guarantees, grants, or payment contracts five years after this Act's enactment. Permits the Administrator or a State to undertake corrective action with respect to threatened releases of petroleum from underground storage tanks. Amends the Internal Revenue Code to make funds from the Leaking Underground Storage Tank Trust Fund available to carry out this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 19 April 1990

   Introduced

   Referred to the House Committee on Energy and Commerce.

   Source: IntroReferral

2. 19 April 1990

   Introduced

   Introduced in House

   Source: IntroReferral

3. 19 April 1990

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 May 1990

   Referred

   Referred to the Subcommittee on Transportation and Hazardous Materials.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · undated · Official file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 19 April 1990

  Open at official source

Sponsors

• Rep. Stangeland, Arlan [R-MN-7] · R · Sponsor
• · hsif00 · Standing
• · hswm00 · Standing

Related records

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