62-761.420. Financial Responsibility

(1) Financial responsibility is the ability to pay for cleanup of a discharge and third-party liability resulting from a discharge of petroleum or petroleum product at the facility.

(2) Financial responsibility shall be maintained and demonstrated to the county or Department for all storage tank systems until the storage tank systems are properly closed pursuant to subsections 62-761.800(2) and (3), F.A.C., and the Closure Report or the Limited Closure Report Form for USTs 62-761.900(8), effective date, October 2019, hereby adopted and incorporated by reference, is submitted to and approved by the county or the Department. To obtain copies of Form 62-761.900(8), see Rule 62-761.900, F.A.C., or http://www.flrules.org/Gateway/reference.asp?No=Ref-10740, or the Department’s website at https://floridadep.gov/waste/permitting-compliance-assistance/content/storage-tank-system-rules-forms-and-reference. Pursuant to section 376.309(1), F.S., the facility owner is required to establish and maintain evidence of financial responsibility and is liable in event of noncompliance. If the facility owner, facility operator, tank owner, and tank operator are separate persons, then evidence of financial responsibility may be demonstrated if one of those persons obtains financial responsibility on behalf of the facility owner.

(3) The demonstration of financial responsibility for storage tank systems shall be made in accordance with reference guideline Technical Standards and Corrective Action Requirements for Owners and Operators of Underground Storage Tanks (UST), Financial Responsibility, 40 CFR Part 280, Subpart H, Financial Responsibility, July 15, 2015, hereby adopted and incorporated by reference and accessible here: Government Printing Office, Code of Federal Regulations, 732 North Capitol Street, N.W., Washington DC 20401-0001, or https://www.flrules.org/Gateway/reference.asp?No=Ref-15341. However, Department Form 62-761.900(3), Financial Mechanisms for Storage Tanks, June 2023, shall be used in lieu of the United States Environmental Protection Agency’s financial wording. Form 62-761.900(3) is hereby adopted and incorporated by reference, and available on the Department’s website at https://floridadep.gov/waste/permitting-compliance-assistance/content/storage-tank-financial-responsibility or http://www.flrules.org/Gateway/reference.asp?No=Ref-15410.

(4) The appropriate part(s) of Form 62-761.900(3) shall be completed and maintained when demonstrating proof of financial responsibility under this rule, and Form 62-761.900(3) Part P will satisfy the Certification of Financial Responsibility requirements of 40 CFR 280.111(b)(11). Facility owners shall ensure that copies of the current financial responsibility document(s) are available for inspection at the facility where the storage tank system(s) is located or at their place of business. Records kept off-site shall be made available for inspection by the Department or County within five business days from the receipt of the Department’s or county’s request. Facility owners are required to maintain evidence of financial responsibility mechanisms in accordance with paragraph 62-761.710(3)(h), F.A.C., and are encouraged to maintain all correspondence associated with coverage and claims.

(5) Financial requirements for the purpose of this rule, regardless of the date of installation of storage tank systems, shall comply with this rule.

(6) Notwithstanding the facility owner’s financial responsibility status, those persons specified in Sections 376.308(1), and 403.141 and 403.161, F.S., shall be liable for any discharge at the facility.

(7) Financial responsibility mechanisms may not include choice of law and venue in favor of jurisdictions other than Florida.

(8) Government-owned facilities demonstrating proof of financial responsibility using a financial test or government fund must prepare the relevant parts of Form 62-761.900(3), within 180 days after the close of each succeeding fiscal year.

Rulemaking Authority 376.303 FS. Law Implemented 376.303, 376.308, 376.309, 403.091, 403.141, 403.161 FS. History–New 1-11-17, Amended 10-13-19, 6-25-23.
Editorial Note: Portions of this rule were copied from Rule 62-761.400, F.A.C., on 1-11-2017.