MUSTA Buy-Down Deductible Due by March 31

2018-03-22T13:11:03+00:00 March 18th, 2016, 05:00am|

Notice to Owners/Operators in Michigan with 7 or Fewer USTs: MUSTA Buy-Down Deductible Due by March 31, 2016

If you own 7 or fewer refined petroleum underground storage tanks (USTs) and you want to use the new Michigan Underground Storage Tank Authority (MUSTA) fund as your financial responsibility mechanisms, then you should be
aware of the following information:

  • The deductible for a release is $50,000.
  • However, if you own 7 or less USTs, you can reduce the deductible per release to $15,000 by paying a yearly $500 buy-down fee per UST.
  • The deadline to pay the buy-down fee to have a reduced deductible in calendar year 2016 is March 31, 2016. This may be worth considering if you are potentially removing or replacing a UST in 2016.
  • The buy-down period for a reduced deductible in calendar year 2017 is between November 1, 2016 and December 31, 2016. This may be worth considering if you are potentially removing or replacing a UST in 2017.
  • The likelihood of discovering a release may be one of the factors that an owner/operator takes into consideration when deciding whether or not to buy-down the deductible.
  • The only exceptions to the dates described above are when a new UST is discovered or if there is a new owner of the UST(s). In these instances, if the owner or operator chooses to buy-down the deductible amount, the fee must be submitted within 14 calendar days upon discovery or new ownership of the UST(s). The buy-down would then be in effect until December 31st of the year the fee was submitted.
  • Buy-down fees are not refundable and the fees will not be prorated for portions of a year.

If you have any questions on the new MUSTA fund, please contact Superior Environmental at (877) 667-4142 or info@superiorenvironmental.com, or you can request more information at our website at superiorenvironmental.com/contact-us.

Superior Environmental has been an active Michigan Petroleum Association (MPA) member for over 25 years, and a Qualified Consultant assisting a wide variety of members with their needs including the new MUSTA process.