[Federal Register Volume 60, Number 151 (Monday, August 7, 1995)]
[Rules and Regulations]
[Pages 40104-40105]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-19251]
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ENVIRONMENTAL PROTECTION AGENCY
40 CFR Part 258
[EPA/OSW-FR-95; FRL-5271-8]
Financial Assurance Criteria for Owners and Operators of
Municipal Solid Waste Landfill Facilities
AGENCY: Environmental Protection Agency (EPA).
ACTION: Final rule; technical corrections.
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SUMMARY: This rule corrects typographical errors in the Financial
Assurance Criteria (40 CFR part 258, subpart G) for owners and
operators of municipal solid waste landfills (MSWLFs).
EFFECTIVE DATE: These technical corrections are effective August 7,
1995. The effective date for subpart G of 40 CFR part 258 was recently
extended from April 9, 1995 until April 9, 1997 (see the April 7, 1995
Federal Register, 60 FR 17649).
FOR FURTHER INFORMATION CONTACT: For general information, contact the
RCRA/Superfund Hotline, Office of Solid Waste, U.S. Environmental
Protection Agency, 401 M Street, SW., Washington, DC 20460, (800) 424-
9346, TDD (800) 553-7672 (hearing impaired); in the Washington, DC
metropolitan area the number is (703) 920-9810, TDD (703) 486-3323.
For more detailed information on specific aspects of this document,
contact Allen J. Geswein (703-308-7261), Office of Solid Waste (5306W),
U.S. Environmental Protection Agency, 401 M Street, SW., Washington, DC
20460.
SUPPLEMENTARY INFORMATION: This rule corrects typographical errors
included in the Financial Assurance Criteria issued on October 9, 1991
as part of the Criteria for Municipal Solid Waste Landfills (see 56 FR
50978). The cross-references in the provisions that relate to a trust
fund (Sec. 258.74(a) (3) and (4)), a letter of credit
(Sec. 258.74(c)(3)) and an insurance policy (Sec. 258.74(d)(3)) are
being changed to reference the correct section that provides for the
use of multiple financial mechanisms (``Sec. 258.74(k)'' or ``paragraph
k'') instead of the current (incorrect) reference to the section that
addresses a state's assumption of responsibility for compliance with
financial assurance requirements (``Sec. 258.74(j)'' or ``paragraph
j''); the surety bond provisions at Sec. 258.74(b)(2) already correctly
reference Sec. 258.74(k). Another change eliminates an incorrect
reference to Sec. 270.74(a) in the trust fund provisions at
Sec. 258.74(a)(6) and substitutes the correct reference to
Sec. 258.74(a). A final change corrects a grammatical error in the
trust fund provisions at Sec. 258.74(a)(4) by substituting ``in the
pay-in period'' for ``on the pay-in period'' in the last sentence of
that subsection.
There is good cause pursuant to section 553(b)(3)(B) of the
Administrative Procedure Act, 5 U.S.C. 553(b)(3)(B), to issue today's
technical corrections without prior notice and comment, because notice
and comment is unnecessary when, as in this case, the changes only
correct prior typographical errors and do not materially change the
regulatory requirements.
List of Subjects in 40 CFR Part 258
Environmental protection, Reporting and recordkeeping requirements,
Waste treatment and disposal.
Dated: June 20, 1995.
Elliott Laws,
Assistant Administrator for Solid Waste and Emergency Response.
40 CFR part 258 is amended as follows:
[[Page 40105]]
PART 258--CRITERIA FOR MUNICIPAL SOLID WASTE LANDFILLS
1. The authority section for part 258 continues to read as follows:
Authority: 42 U.S.C. 6907(a)(3), 6912(a), 6944(a) and 6949a(c);
33 U.S.C. 1345 (d) and (e).
2. Section 258.74 is amended by revising paragraphs (a)(3), (a)(4),
(a)(6), (c)(3), and (d)(3) to read as follows:
Sec. 258.74 Allowable mechanisms.
* * * * *
(a) * * *
(3) For a trust fund used to demonstrate financial assurance for
closure and post-closure care, the first payment into the fund must be
at least equal to the current cost estimate for closure or post-closure
care, except as provided in paragraph (k) of this section, divided by
the number of years in the pay-in period as defined in paragraph (a)(2)
of this section. The amount of subsequent payments must be determined
by the following formula:
Next Payment = [CE - CV]/Y
where CE is the current cost estimate for closure or post-closure care
(updated for inflation or other changes), CV is the current value of
the trust fund, and Y is the number of years remaining in the pay-in
period.
(4) For a trust fund used to demonstrate financial assurance for
corrective action, the first payment into the trust fund must be at
least equal to one-half of the current cost estimate for corrective
action, except as provided in paragraph (k) of this section, divided by
the number of years in the corrective action pay-in period as defined
in paragraph (a)(2) of this section. The amount of subsequent payments
must be determined by the following formula:
Next Payment = [RB - CV]/Y
where RB is the most recent estimate of the required trust fund balance
for corrective action (i.e., the total costs that will be incurred
during the second half of the corrective action period), CV is the
current value of the trust fund, and Y is the number of years remaining
in the pay-in period.
* * * * *
(6) If the owner or operator establishes a trust fund after having
used one or more alternate mechanisms specified in this section, the
initial payment into the trust fund must be at least the amount that
the fund would contain if the trust fund were established initially and
annual payments made according to the specifications of this paragraph
and paragraph (a) of this section, as applicable.
* * * * *
(c) * * *
(3) The letter of credit must be irrevocable and issued for a
period of at least one year in an amount at least equal to the current
cost estimate for closure, post-closure care or corrective action,
whichever is applicable, except as provided in paragraph (k) of this
section. The letter of credit must provide that the expiration date
will be automatically extended for a period of at least one year unless
the issuing institution has cancelled the letter of credit by sending
notice of cancellation by certified mail to the owner and operator and
to the State Director 120 days in advance of cancellation. If the
letter of credit is cancelled by the issuing institution, the owner or
operator must obtain alternate financial assurance.
* * * * *
(d) * * *
(3) The insurance policy must be issued for a face amount at least
equal to the current cost estimate for closure or post-closure care,
whichever is applicable, except as provided in paragraph (k) of this
section. The term face amount means the total amount the insurer is
obligated to pay under the policy. Actual payments by the insurer will
not change the face amount, although the insurer's future liability
will be lowered by the amount of the payments.
* * * * *
[FR Doc. 95-19251 Filed 8-4-95; 8:45 am]
BILLING CODE 6560-50-P
