Utah Admin. Code R315-265-144 - Financial Requirements - Cost Estimate for Post-Closure Care
(a) The owner or operator of a hazardous
waste disposal unit shall have a detailed written estimate, in current dollars,
of the annual cost of post-closure monitoring and maintenance of the facility
in accordance with the applicable post-closure regulations in Sections
R315-265-117 through R315-265-120, R315-265-228, R315-265-258, and
40 CFR
265.280 and
265.310,
which are adopted and incorporated by reference.
(1) The post-closure cost estimate shall be
based on the costs to the owner or operator of hiring a third party to conduct
post-closure care activities. A third party is a party who is neither a parent
nor subsidiary of the owner or operator. See definition of parent corporation
in Subsection R315-265-141(d).
(2)
The post-closure cost estimate is calculated by multiplying the annual
post-closure cost estimate by the number of years of post-closure care required
under Section R315-265-117.
(b) During the active life of the facility,
the owner or operator shall adjust the post-closure cost estimate for inflation
within 60 days prior to the anniversary date of the establishment of the
financial instrument(s) used to comply with Section R315-265-145. For owners or
operators using the financial test or corporate guarantee, the post-closure
care cost estimate shall be updated for inflation no later than 30 days after
the close of the firm's fiscal year and before submission of updated
information to the Director as specified in Subsection R315-265-145(d)(5). The
adjustment may be made by recalculating the post-closure 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 R315-265-145(b)(1) and (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 post-closure cost estimate by the inflation factor. The result
is the adjusted post-closure cost estimate.
(2) Subsequent adjustments are made by
multiplying the latest adjusted post-closure cost estimate by the latest
inflation factor.
(c)
During the active life of the facility, the owner or operator shall revise the
post-closure cost estimate no later than 30 days after a revision to the
post-closure plan which increases the cost of post-closure care. If the owner
or operator has an approved post-closure plan, the post-closure cost estimate
shall be revised no later than 30 days after the Director has approved the
request to modify the plan, if the change in the post-closure plan increases
the cost of post-closure care. The revised post-closure cost estimate shall be
adjusted for inflation as specified in Subsection R315-265-144(b).
(d) The owner or operator shall keep the
following at the facility during the operating life of the facility: the latest
post-closure cost estimate prepared in accordance with Subsections
R315-265-144(a) and (c) and, when this estimate has been adjusted in accordance
with Subsection R315-265-144(b), the latest adjusted post-closure cost
estimate.
Notes
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