# Idaho Code § 41-4902: 41-4902 LEGISLATIVE FINDINGS AND INTENT > Idaho · Statutes · In force URL: https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4902 ## Section - **Citation:** Idaho Code § 41-4902 - **Heading:** 41-4902 LEGISLATIVE FINDINGS AND INTENT - **Jurisdiction:** Idaho - **Kind:** Statutes - **Status:** In force - **Text as of:** August 14, 2026 - **Source:** Compiled text - **Location:** Idaho Code / Title 41 / Chapter 49 / Section 41-4902 ## Text 41-4902. Legislative findings and intent. (1) The legislature finds that significant quantities of petroleum and petroleum products are being stored in tanks in Idaho to meet the needs of its citizens, foster economic growth and development and the overall quality of life in the state. While most storage tanks are being operated and managed responsibly, there are occasions when releases occur, threatening the public health and safety, and the environment. It is to the benefit of Idaho's citizens to correct any such threats to the public health and safety or environment as quickly and completely as possible. Significant financial resources must be available to investigate and remedy any release. However, reasonably affordable petroleum liability insurance coverage is unavailable to pay for such corrective and cleanup measures. Thus, creation of a fund for corrective actions for petroleum releases would be beneficial to the state and would provide a method for Idaho petroleum storage tank owners or operators to satisfy the financial responsibility requirements imposed on them by the federal environmental protection agency. Such a fund would be created by the imposition of a "transfer fee" of one cent ($.01) per gallon on the delivery or storage of petroleum products within the state of Idaho. Such a fund would provide moneys for the immediate protection of the public health and safety and the environment, while helping avoid catastrophic losses to the owners and operators which could result in negative impacts on Idaho's economy. (2) Therefore, it is hereby declared that the intent of the legislature in the passage of this chapter is to create and regulate in the public interest the formation and operation of a liability insurance trust fund that will make contracts of liability insurance available to owners and operators of petroleum storage tanks as defined herein through fair and equitable insurance contracts issued by a state-licensed nonprofit organization meeting reasonable standards as to its administration, reserves, financial soundness and the prompt and fair payment of claims arising out of the legal liability of the public and private entities protected and insured by these contracts, which will also provide for swift corrective action for releases of petroleum or petroleum products from leaking storage tanks. While the release of petroleum from any storage tank in the state may be a threat to public health and safety and the environment, this fund shall only be available for costs incurred as to those tanks which are covered by a contract of insurance between the owner or operator and the trust fund. History: [41-4902, added 1990, ch. 119, sec. 1, p. 267; am. 1991, ch. 59, sec. 1, p. 115.] ## Nearby sections - [Idaho Code § 41-4901 41-4901 SHORT TITLE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4901.md) - [Idaho Code § 41-4902 41-4902 LEGISLATIVE FINDINGS AND INTENT.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4902.md) - [Idaho Code § 41-4903 41-4903 DEFINITIONS.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4903.md) - [Idaho Code § 41-4904 41-4904 BOARD OF TRUSTEES OF THE FUND.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4904.md) - [Idaho Code § 41-4905 41-4905 CREATION, AUTHORIZATION AND MANAGEMENT OF THE IDAHO PETROLEUM CLEAN WATER TRUST FUND.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4905.md) - [Idaho Code § 41-4906 41-4906 LIMITS OF LIABILITY FOR CONTRACTS OF INSURANCE ISSUED BY THE ADMINISTRATOR.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4906.md) - [Idaho Code § 41-4907 41-4907 OWNER OR OPERATOR FINANCIAL RESPONSIBILITY.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4907.md) - [Idaho Code § 41-4908 41-4908 EXCLUSIVENESS OF REMEDY.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4908.md) - [Idaho Code § 41-4909 41-4909 SOURCE OF TRUST FUND — APPLICATION FEES — APPLICATION FOR ENROLLMENT — TRANSFER FEES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4909.md) - [Idaho Code § 41-4910 41-4910 DISTRIBUTION OF APPLICATION FEES AND TRANSFER FEES.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4910.md) - [Idaho Code § 41-4911 41-4911 ISSUANCE OF CONTRACTS OF INSURANCE BY THE ADMINISTRATOR OF THE IDAHO PETROLEUM CLEAN WATER TRUST FUND — DEFERRAL.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4911.md) - [Idaho Code § 41-4911A 41-4911A PROVISIONS OF CONTRACTS OF INSURANCE — RENEWAL.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4911A.md) - [Idaho Code § 41-4912 41-4912 STORAGE TANKS ELIGIBLE FOR INSURANCE.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4912.md) - [Idaho Code § 41-4912A 41-4912A STORAGE TANKS LOCATED ON SITES WHERE CONTAMINATION IS PRESENT.](https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4912A.md) --- Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ID_T41_C49_S41-4902. 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