CFO Sink Calls for Funding of Inland Protection Trust Fund
CONTACT: Kyra Jennings or Kevin Cate
CFO SINK CALLS FOR FUNDING OF INLAND PROTECTION TRUST FUND
TALLAHASSEE – Florida’s Chief Financial Officer Alex Sink today urged the Florida Legislature to make sure the Inland Protection Trust Fund (IPTF) is adequately funded, so that the clean-up work can continue on sites contaminated by leaking underground storage tanks and that the clean-up progress already being made is not wasted.
“Adequately funding the Inland Protection Trust Fund is a smart investment -- it provides long term cost savings by avoiding the potential costs of contaminated drinking water,” said CFO Sink. “If the Legislature fails to adequately fund the Inland Protection Trust Fund and clean-up is stopped, contamination can spread, making any future cleanup extremely expensive and putting the state’s drinking water source at serious risk. Holding back funding also wastes millions of dollars that are invested in clean-up projects that are currently underway.”
Petroleum storage tanks constitute a significant threat to the quality of Florida’s vital underground water resources. Florida currently receives 90% of its drinking water from underground sources.
“The Legislature should consider the long-term public health and economic consequences of stopping this clean-up program, instead of relying on this short-sighted plan to divert trust fund money,” CFO Sink continued.