Section 46.08.005. Purpose of fund; description of accounts.

The legislature finds and declares that the release of oil or hazardous substances into the environment presents a real and substantial threat to the public health and welfare, to the environment, and to the economy of the state. The legislature therefore concludes that it is in the best interest of the state and its citizens to provide a fund containing two accounts. Within the fund,
        (1) one account consists of money readily available to the commissioner for the payment of the expenses incurred by the department during a response to a release or threatened release of oil or hazardous substances when authorized by AS 46.08.045 and for related purposes intended to address those releases;
        (2) the other account consists of money that the state may use during a response to a release of oil or a hazardous substance, other than one described in (1) of this section, and to a threatened release of oil or a hazardous substance, to pay the expenses of making preparations for the possibility of a release or threatened release of oil or hazardous substances, to reduce the amount, degree, or intensity of a release or threatened release, and for other related purposes identified in law.

Authorities

46.08.020;46.08.070;46.08.080

Notes

Recent Bills that will modify this

SB 35 2015 REVISOR'S BILL

References

AS 46.08.020 Financing of the oil and hazardous substance release prevention account; prevention mitigation account.
AS 46.08.070 Reimbursement for containment and cleanup.
AS 46.08.080 Regulations.

History

(Sec. 1 ch 59 SLA 1986; am Sec. 2 ch 48 SLA 1991; am Sec. 20 ch 128 SLA 1994; am Sec. 59 ch 22 SLA 2015)