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What is the Environmental Protection Charge (EPC) for petroleum storage tanks?

April 26, 2017charge Environmental EPC Petroleum storage tanks

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What is the Environmental Protection Charge (EPC) for petroleum storage tanks?

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Iowa Code Chapter 424 gives the Iowa Department of Revenue the responsibility of collecting an Environmental Protection Charge (EPC) based on petroleum diminution from certain storage tanks. This charge is imposed on behalf of the Iowa Comprehensive Petroleum Underground Storage Tank Board. The EPC is imposed on all petroleum products deposited into non-exempt storage tanks in Iowa. The charge is established at a rate estimated to generate $17 million in revenue each year to fund the Iowa Comprehensive Petroleum Underground Storage Tank Fund, which is used to finance petroleum leakage cleanup. Call 1-800-367-3388 if you need to discuss the EPC with the Department of Revenue.