Utah Admin. Code R315-261-142 - Financial Requirements for Management of Excluded Hazardous Secondary Materials - Cost Estimate
(a) The owner or
operator shall have a detailed written estimate, in current dollars, of the
cost of disposing of any hazardous secondary material as listed or
characteristic hazardous waste, and the potential cost of closing the facility
as a treatment, storage, and disposal facility.
(1) The estimate shall equal the cost of
conducting the activities described in Subsection
R315-261-142(a)
at the point when the extent and manner of the facility's operation would make
these activities the most expensive.
(2) The cost estimate shall be based on the
costs to the owner or operator of hiring a third party to conduct these
activities. A third party is a party who is neither a parent nor a subsidiary
of the owner or operator. See the definition of "parent corporation" in
Subsection R315-265-141(d).
The owner or operator may use costs for on-site disposal in accordance with
applicable requirements if the owner or operator can demonstrate that on-site
disposal capacity will exist always over the life of the facility.
(3) The cost estimate may not incorporate any
salvage value that may be realized with the sale of hazardous secondary
materials, or hazardous or non-hazardous wastes if applicable under Subsection
R315-265-113(d),
facility structures or equipment, land, or other assets associated with the
facility.
(4) The owner or operator
may not incorporate a zero cost for hazardous secondary materials, or hazardous
or non-hazardous wastes if applicable under Subsection
R315-265-113(d),
that might have economic value.
(b) During the active life of the facility,
the owner or operator shall adjust the cost estimate for inflation within 60
days before the anniversary date of the establishment of the financial
instruments used to comply with Section
R315-261-143. For owners and
operators using the financial test or corporate guarantee, the cost estimate
shall be updated for inflation within 30 days after the close of the firm's
fiscal year and before submission of updated information to the director as
specified in Subsection
R315-261-143(e)(3).
The adjustment may be made by recalculating the cost estimate in current
dollars, or by using an inflation factor derived from the most recent Implicit
Price Deflator for Gross National Product published by the U.S. Department of
Commerce in its Survey of Current Business, as specified in Subsections
R315-261-142(b)(1)
and R315-261-142(b)(2).
The inflation factor is the result of dividing the latest published annual
Deflator by the Deflator for the previous year.
(1) The first adjustment is made by
multiplying the cost estimate by the inflation factor. The result is the
adjusted cost estimate.
(2)
Subsequent adjustments are made by multiplying the latest adjusted cost
estimate by the latest inflation factor.
(c) During the active life of the facility,
the owner or operator shall revise the cost estimate no later than 30 days
after a change in a facility's operating plan or design that would increase the
costs of conducting the activities described in Subsection
R315-261-142(a)
or no later than 60 days after an unexpected event that increases the cost of
conducting the activities described in Subsection
R315-261-142(a).
The revised cost estimate shall be adjusted for inflation as specified in
Subsection R315-261-142(b).
(d) The owner or operator shall keep the
following at the facility during the operating life of the facility: The latest
cost estimate prepared in accordance with Subsections
R315-261-142(a)
and R315-261-142(c)
and, if this estimate has been adjusted in accordance with Subsection
R315-261-142(b),
the latest adjusted cost estimate.
Notes
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