A. The Director of the Petroleum Storage Tank Division shall make a written report on an annual basis to the Corporation Commissioners, the Storage Tank Advisory Council, the Speaker of the House of Representatives and the President Pro Tempore of the Senate detailing the following:

1. The total number of storage tank applicants requesting disbursement from the Indemnity Fund during the preceding year;

2. The total number of storage tank applicants receiving payment during the preceding year and total amount disbursed for such payments;

3. The average time frame for providing disbursements to applicants;

4. The total amount of funds needed to complete the corrective action and achieve closure of all release cases; and

5. Any other information requested by the Speaker of the House of Representatives or the President Pro Tempore of the Senate regarding the Indemnity Fund program.

B. The Oklahoma Tax Commission shall submit an annual report to the Speaker of the House of Representatives and the President Pro Tempore of the Senate detailing the amount of assessments collected for deposit to the Indemnity Fund and to the State Transportation Fund.

C. The Oklahoma Department of Transportation shall submit an annual report to the Speaker of the House of Representatives and the President Pro Tempore of the Senate detailing the expenditures made from the revenue received from the assessment levied pursuant to Section 327.1 of this title.

D. The Oklahoma Department of Environmental Quality shall submit an annual report to the Speaker of the House of Representatives and the President Pro Tempore of the Senate detailing the expenditures made from the revenue received from the assessment levied pursuant to Section 327.1 of this title.

E. By December 1, 1998, and every year thereafter, the State Auditor and Inspector shall conduct an independent audit of the books, records, files and other such documents of the Corporation Commission pertaining to and which relate to the administration of the Petroleum Storage Tank Indemnity Fund. The audit shall include but shall not be limited to a review of agency compliance with state statutes regarding the Indemnity Fund, internal control procedures, adequacy of claim process expenditures from and debits of the Indemnity Fund regarding administration, personnel, operating and other expenses charged by the Corporation Commission; the duties performed in detail by agency personnel and Indemnity Fund personnel for which payment is made from the Indemnity Fund, and recommendations for improving claim processing, equipment needed for claim processing, internal control or structure for administering the Indemnity Fund; and such other areas deemed necessary by the State Auditor and Inspector.

F. The cost of the audit shall be borne by the Indemnity Fund.

G. Copies of the audit shall be submitted to the State Auditor and Inspector, the Governor, the Speaker of the House of Representatives, the President Pro Tempore of the Senate and the Chairs of the Appropriation Committees of both the Oklahoma House of Representatives and the Oklahoma State Senate.

Added by Laws 1998, c. 375, § 5, emerg. eff. June 9, 1998. Amended by Laws 2018, c. 27, § 23, eff. Nov. 1, 2018; Laws 2019, c. 82, § 10, eff. July 1, 2019.