LD 2033 – LD 2033 – An Act To Ensure Proper Closure of Oil Terminal Facilities
Summary: This bill ensures proper closure of oil terminal facilities by establishing financial assurance and facility closure requirements. It develops a process for assessing the costs of decommissioning oil terminal facilities and infrastructure and establishing financial responsibility for closure costs. It requires, upon closure, removal of facilities and appurtenances and remediation of the site to an unrestricted use standard or the most protective use standard determined by the Department of Environmental Protection to be practicable. It also requires facilities not in use for 10 years to file a closure plan. The bill also requires oil terminal facilities to provide evidence of financial ability to satisfy liability under existing law.