Louisiana SB505 amends the Motor Fuels Underground Storage Tank Trust Dedicated Fund Account, setting new limits on grant and loan amounts and.
Louisiana SB505 modifies the Motor Fuels Underground Storage Tank Trust Dedicated Fund Account, establishing new limits on grant and loan amounts and application periods. The bill sets the maximum amount for a single grant or loan at $300,000, with a total annual limit of $6 million. It also limits the number of grants or loans to 15 per application period and 40 per year. The application periods are set for January 1 to March 31 and July 1 to September 30. The bill requires that upgrades and improvements be completed within three fiscal years.
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