Bill summaries are authored by CRS.

Shown Here:
Passed House amended (04/23/1997)

TABLE OF CONTENTS:

Title I: Distributions from Leaking Underground Storage Tank

Trust Fund

Title II: Extension of Trust Fund Purposes

Leaking Underground Storage Tank Trust Fund Amendments Act of 1997 - Title I: Distributions from Leaking Underground Storage Tank Trust Fund - Amends the Solid Waste Disposal Act to require the Administrator of the Environmental Protection Agency (EPA) to distribute to States at least 85 percent of the funds appropriated to EPA from the Leaking Underground Storage Tank Trust Fund each fiscal year for the reasonable costs under cooperative agreements of: (1) State actions under the EPA program for petroleum release responses; (2) necessary administrative expenses directly related to corrective action and compensation programs under State financial responsibility requirements; (3) other costs of such programs in any instance, as determined by the State, in which an owner's or operator's financial resources (excluding resources provided by such programs) are inadequate to pay the costs of a corrective action without significantly impairing the ability to continue in business; (4) enforcement of an approved State or local underground storage tank (UST) program or similar provisions; and (5) State and local corrective actions pursuant to regulations regarding corrective action in response to UST releases. Prohibits use of such funds to provide financial assistance to an owner or operator in meeting regulatory requirements for upgrading of existing UST systems.

Sets forth requirements for allocation of funds to States.

Makes inapplicable to Trust Fund amounts provided to owners or operators under programs described in (2), above, provisions for recovery of petroleum release corrective or enforcement action costs.

Title II: Extension of Trust Fund Purposes - Amends the Internal Revenue Code to authorize use of amounts in the Trust Fund for making expenditures to carry out this Act.