A bill to allow for the use of risk-based inspections for in-service breakout tanks.

This bill allows pipeline facility owners and operators to use risk-based inspections instead of fixed schedules for in-service breakout tanks (tanks that temporarily store hazardous liquids during pipeline operations). It requires the Pipeline and Hazardous Materials Safety Administration to update federal regulations (49 CFR §195.432) to formally permit this approach within 60 days of the bill's enactment. The key change shifts inspection requirements from time-based checks to assessments focused on actual risk factors like tank condition or location. This directly affects pipeline operators subject to federal safety rules under Title 49 of the U.S. Code. The bill does not alter safety standards but changes how compliance is demonstrated.