{"id":5036,"date":"2023-02-21T19:04:44","date_gmt":"2023-02-21T19:04:44","guid":{"rendered":"https:\/\/deptest.nj.gov\/srp\/?page_id=5036"},"modified":"2024-02-21T18:04:23","modified_gmt":"2024-02-21T18:04:23","slug":"financial-responsibility-requirements","status":"publish","type":"page","link":"https:\/\/deptest.nj.gov\/srp\/regulated\/financial-responsibility-requirements\/","title":{"rendered":"Financial Responsibility Requirements"},"content":{"rendered":"

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UST Financial Responsibility Requirements<\/h4>\n

Based on N.J.A.C. 7:14B-15 -Financial Responsibility Requirements, this table displays the Per Occurrence Coverage and Aggregate Coverage of various groups of UST Owners and Operators. These coverages are needed to meet the financial responsibility assurance requirements for owners and operators of underground storage tank systems for the purpose of remediation and for compensating third parties for bodily injury and property damage as a result of a discharge from an underground storage tank system.<\/p>\n

PDF Version<\/a> [pdf]<\/span><\/p>\n\n\n\n\n\n\n\n
Group Of UST Owners And Operators<\/th>\nApplicable Law(s)<\/th>\nPer Occurrence Coverage<\/th>\nAggregate Coverage<\/th>\n<\/tr>\n
Petroleum marketers
\n(i.e. Tanks at refineries, Gas stations, Fuel distributors, etc.)<\/td>\n		Federal & State Regulated Tanks subject to 40 C.F.R. Part 280 Subpart H<\/td>\n$1 million<\/strong><\/td>\n$1 million<\/strong>
\nif you have 100 or fewer tanksOR<\/i><\/strong>$2 million<\/strong>
\nif you have more than 100 tanks<\/td>\n<\/tr>\n
Nonmarketers & Local governments
\n(i.e. Businesses, Car dealers, Trucking firms, Motor fuel for farms and residences with more than 1100 gallons aggregate total, Waste oil, Emergency generators, etc.)<\/td>\n		Federal & State Regulated Tanks subject to 40 C.F.R. Part 280 Subpart H<\/td>\n$500,000<\/strong><\/p>\n

if throughput is 10,000 gallons monthly or less<\/p>\n

OR<\/strong><\/i><\/p>\n

$1 million<\/strong><\/p>\n

if throughput is more than 10,000 gallons monthly<\/td>\n<\/tr>\n

All other State regulated Petroleum USTs
\n(i.e. Heating oil for non-residential on-site consumptive use with more than 2000 gallons aggregate total, Petroleum sumps, Tanks<110 gallons in volume, etc.)<\/td>\n		State Only Regulated Tanks (not Federally Regulated) subject to N.J.A.C. 7:14B-15<\/td>\n$250,000<\/strong><\/p>\n

if throughput is 10,000 gallons monthly or less<\/p>\n

OR<\/strong><\/i><\/p>\n

$1 million<\/strong><\/p>\n

if throughput is more than 10,000 gallons monthly<\/td>\n<\/tr>\n

Hazardous Substances other than Petroleum
\n(i.e. Chemicals, RCRA hazardous waste, etc.)<\/td>\n		Federal & State Regulated Tanks but Financial Responsibility only required by State subject to N.J.A.C. 7:14B-15<\/td>\n$1 million<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Petroleum marketers include all facilities at which petroleum is produced or refined and all facilities from which petroleum is sold or transferred to other petroleum marketers or to the public.<\/p>\n

State and Federal government entities whose debts and liabilities are the debts and liabilities of the State or the United States are exempt from these Financial Responsibility Requirements.<\/p>\n

For additional NJ information please visit us at N.J.A.C. 7:14B-15<\/a> [pdf]<\/span>: CSRR Rules<\/a>. For additional Federal information please visit at: Financial Responsibility Requirements For USTs<\/a>[\/vc_column_text][\/vc_column][vc_column offset=”vc_col-lg-3 vc_col-md-3″ el_class=”order-1 swap-on-mobile”][vc_column_text]<\/p>\n

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More Information<\/h5>\n