```

[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4272 Introduced in House (IH)]

104th CONGRESS
  2d Session
                                H. R. 4272

To amend the Solid Waste Disposal Act to improve public accountability 
   and public safety in the management of hazardous waste facilities.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                           September 27, 1996

  Mr. Spratt introduced the following bill; which was referred to the 
                         Committee on Commerce

_______________________________________________________________________

                                 A BILL

 
To amend the Solid Waste Disposal Act to improve public accountability 
   and public safety in the management of hazardous waste facilities.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Hazardous Waste Facilities Financial 
Responsibility Act of 1996''.

SEC. 2. REVISED POST-CLOSURE STANDARDS.

    Section 3004(t) of the Solid Waste Disposal Act (42 U.S.C. 6924(t)) 
is amended by adding the following new paragraph after paragraph (4):
    ``(5) Not later than 24 months after the enactment of the Hazardous 
Waste Facilities Public Accountability Act of 1996, the Administrator 
shall revise the standards for financial responsibility and post-
closure care promulgated pursuant to subsection (a) of this section to 
provide for each of the following:
            ``(A) A post-closure care period of not less than 30 years 
        for facilities where wastes or residuals remain on site. After 
        30 years, the owner or operator of the facility may submit a 
        petition to the Administrator for termination of the post-
        closure care period. If such petition is denied, the owner or 
        operator may resubmit a petition for termination at 15-year 
        intervals thereafter until the petition is granted. The 
        Administrator shall grant the petition if the owner or operator 
        of the facility demonstrates to the satisfaction of the 
        Administrator, and the Administrator determines, after notice 
        and public hearing, that post-closure care is no longer 
        necessary to protect human health and the environment.
            ``(B) Financial responsibility for credible accidents and 
        known corrective action from the issuance of an operating or 
        post-closure permit through closure and the entire post-closure 
        care period, including provisions for revision, where 
        necessary, based on changed circumstances.
            ``(C) Liability assurances through the entire post-closure 
        care period.
            ``(D) Financial responsibility for post-closure care 
        through the entire post-closure care period (if any) and 
        revisions of post-closure care cost estimates, after closure, 
        resulting from a change to the facility or to the post-closure 
        permit that increases the cost of performing post-closure care.
            ``(E) For any facility that is closed after the date of 
        enactment of this paragraph, financial responsibility standards 
        under this paragraph may not be satisfied by means of either of 
        the following:
                    ``(i) Financial tests pursuant to which owner or 
                operator demonstrates any of the following:
                            ``(I) A ratio of total liabilities to net 
                        worth; a ratio of the sum of net income plus 
                        depreciation, depletion, and amortization to 
                        total liabilities greater; or a ratio of 
                        current assets to current liabilities.
                            ``(II) Net working capital and tangible net 
                        worth greater than the sum of the current 
                        closure and post-closure cost estimates and the 
                        current plugging and abandonment cost 
                        estimates.
                            ``(III) Tangible net worth of a specified 
                        amount or of an amount greater than the sum of 
                        the current closure and post-closure cost 
                        estimates and the current plugging and 
                        abandonment cost estimates.
                            ``(IV) Assets located in the United States 
                        in an amount greater than (a) total assets or 
                        (b) the sum of the current closure and post-
                        closure cost estimates and the current plugging 
                        and abandonment cost estimates.
                            ``(V) A current rating for the most recent 
                        bond issuance.
                    ``(ii) A corporate guarantee for closure issued by 
                the parent corporation of the owner or operator.''.
                                 <all>
```