A. It is the intent of the Legislature that the regulation of spills and releases from petroleum storage tanks, oversight of petroleum storage tank environmental cleanups, and the reimbursement of claims for costs incurred for petroleum storage tank environmental cleanups be administered by a single division of the Corporation Commission, the Petroleum Storage Tank Division. B. This act shall be known and may be cited as the "Oklahoma Petroleum Storage Tank Reform Act". C. The purpose of the Oklahoma Petroleum Storage Tank Reform Act is to provide for the administration of the various programs within the Corporation Commission regulating the release or spilling of fuel from petroleum storage tanks and to: 1. Eliminate overlap and duplication of effort; 2. Provide that petroleum storage tank regulatory concerns of industry and the public shall be addressed in an expedient manner; and 3. Better utilize financial resources for petroleum storage tank regulatory services, administration, and reimbursement of claims for environmental cleanup by the Petroleum Storage Tank Indemnity Fund. D. The Storage Tank Advisory Council shall make recommendations and the Corporation Commission shall adopt rules to implement the provisions of this act by January 1, 1999. These rules shall include procedural rules specifically designed for the adjudication of cases within the jurisdiction of the Division. E. The provisions of this act shall be applicable to all current, pending, past and future contracts, claims and cases within the jurisdiction of the Division, provided that this subsection shall not apply, nor be construed to authorize or permit the reopening or re-review of the underlying claim or claims of any cases which were formally settled pursuant to a formal settlement agreement or in which a final order was entered by the Corporation Commission. Further, the provisions of this act shall not change or modify the terms of pay for performance or purchase order contracts entered into prior to the effective date of this act.
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