N.J. Admin. Code § 7:14B-15.2 - Amount and scope of required financial responsibility

(a) Owners and operators shall maintain financial responsibility assurance for regulated underground storage tank systems in the per-occurrence or per-incident amounts as follows:

1. For petroleum underground storage tank systems located at petroleum marketing facilities, or facilities that handle an average of more than 10,000 gallons of petroleum per month based on annual throughput for the previous calendar year: $ 1,000,000;

2. For all other petroleum underground storage tanks: $ 250,000; and

3. For underground storage tanks systems containing hazardous substances other than petroleum: $ 1,000,000.

(b) Owners and operators shall maintain financial responsibility assurance for regulated underground storage tank systems in the annual aggregate amounts as follows:

1. For one to 100 underground storage tanks: $ 1,000,000; and

2. For 101 or more underground storage tanks: $ 2,000,000.

(c) Owners and operators shall review the amount of per-occurrence or per-incident, and aggregate assurance needed whenever they acquire or install additional underground storage tanks to ensure the amount of financial responsibility assurance required at (a) and (b) above are maintained.

(d) If an adjustment in the amount of financial responsibility assurance is required pursuant to (c) above, the owner and operator shall demonstrate the adjusted amount within 30 calendar days after the tank acquisition or installation by submitting to the Department an amended New Jersey Underground Storage Tank Facility Certification Questionnaire in accordance with N.J.A.C. 7:14B-2.2.

(e) If an owner and operator use liability insurance authorized by 40 CFR 280.94 and 40 CFR 280.97 as the financial responsibility assurance required under this subchapter, as provided by the Underground Storage Tank Finance Act at N.J.S.A. 58:10A-37.11, such insurance shall be the primary coverage to pay for the costs associated with remediating a discharge from the UST system, notwithstanding that financial assistance from New Jersey Petroleum Underground Storage Tank Remediation, Upgrade and Closure Fund is or may be available.

Notes

N.J. Admin. Code § 7:14B-15.2

Amended by 50 N.J.R. 409(a), effective 1/16/2018