§ 46-12.9-11 - Fundings.
SECTION 46-12.9-11
§ 46-12.9-11 Fundings. – (a) There is hereby imposed an environmental protection regulatory fee of onecent ($0.01) per gallon payable of motor fuel, to be collected by distributorsof motor fuel when the product is sold to owners and/or operators ofunderground storage tanks. Each distributor shall be responsible to the taxadministrator for the collection of the regulatory fee, and if the distributoris unable to recover the fee from the person who ordered the product, thedistribution shall nonetheless remit to the tax administrator the regulatoryfee associated with the delivery. In accordance with the regulations to bepromulgated hereunder, the fee shall be collected, reported, and paid to theRhode Island division of taxation as a separate line item entry, on a quarterlytax report by those persons charged with the collection, reporting, and paymentof motor fuels taxes. This fee shall be administered and collected by thedivision of taxation. Notwithstanding the provisions of this section, the feeshall not be applicable to purchases by the United States government.
(b) Of the one cent ($0.01) per gallon environmentalprotection regulatory fee collected by distributors of motor fuel and paid tothe Rhode Island division of taxation, one-half cent ($0.005) shall bedeposited in the Intermodal Surface Transportation Fund to be distributedpursuant to § 31-36-20 and one-half cent ($0.005) shall be paid to theunderground storage tank review board. All environmental protection regulatoryfees paid to the review board, including tank registration fees assessedpursuant to § 46-12.9-7(9), shall be received by the review board, whichshall keep such money in a distinct interest bearing restricted receipt accountto the credit of and for the exclusive use of the fund provided that for theperiod January 1, 2008 through June 30, 2008, all revenues generated by theenvironmental protection regulatory fee up to a maximum of two million dollars($2,000,000) shall be deposited into the general fund. In fiscal year 2009, allrevenues generated by the environmental protection regulatory fee up to amaximum equivalent to two million two hundred thirty-seven thousand fivehundred dollars ($2,237,500) shall be deposited into the Intermodal SurfaceTransportation Fund. All fees collected may be invested as provided by law andall interest received on such investment shall be credited to the fund.
(c) When the fund reaches the sum of eight million dollars($8,000,000), the imposition of the fee set forth in this chapter shall besuspended, and the division of taxation shall notify all persons responsiblefor the collection, reporting and payments of the fee of the suspension. In theevent that the account balance of the fund subsequently is reduced to a sumless than five million dollars ($5,000,000) as a result of fund activity, thefee shall be reinstated by the division of taxation, following proper noticethereof, and once reinstated, the collection, reporting, and payment of the feeshall continue until the account balance again reaches the sum of eight milliondollars ($8,000,000).
(d) Upon the determination by the review board and thedepartment that the fund has reached a balance sufficient to satisfy allpending or future claims, the review board shall recommend to the generalassembly the discontinuation of the imposition of the fee created in thissection.