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CO SB122

CO SB122
Fuel Standards & Liability of Petroleum Storage Tank Fund


summary

Introduced
02/24/2026
In Committee
03/25/2026
Crossed Over
03/25/2026
Passed
Dead

Introduced Session

2026 Regular Session

Bill Summary

Under current law, the maximum amount of liability of the petroleum storage tank fund for an individual occurrence of a leak, spill, or release of a petroleum product from an underground storage tank (occurrence) is $2,000,000. The bill increases the maximum liability to $2,500,000 per occurrence. Additionally, an owner or operator of an underground or aboveground storage tank (owner or operator) may exceed this amount of liability with the permission of the director of the division of oil and public safety (director) and the petroleum storage tank committee (committee). If the director and the committee grant such permission, the director and committee shall establish a new maximum amount of liability per occurrence for the owner or operator. Under current law, all class I, II, and III liquid fuel products must comply with the most current applicable standards of ASTM International. The bill allows the director to adopt a rule or issue policy guidance that provides exceptions to specific requirements established in an ASTM standard.

AI Summary

This bill increases the maximum liability of the petroleum storage tank fund for a single incident, or "occurrence," of a leak, spill, or release of petroleum from a storage tank from $2,000,000 to $2,500,000, though owners or operators can seek permission from the director of the division of oil and public safety and the petroleum storage tank committee to exceed this new limit, with the director and committee then setting a revised maximum. Additionally, the bill allows the director to create exceptions to specific fuel product standards set by ASTM International, an organization that develops and publishes technical standards, to address issues like consumer protection, pricing, and supply networks, which is a departure from the current requirement that all class I, II, and III liquid fuel products must strictly adhere to the latest ASTM standards.

Committee Categories

Agriculture and Natural Resources, Business and Industry

Sponsors (14)

Last Action

House Agriculture, Water & Natural Resources Hearing (13:30:00 4/6/2026 Room 0107) (on 04/06/2026)

bill text


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