Hawaii Administrative Rules › Title 11 - DEPARTMENT OF HEALTH › Subtitle 1 - GENERAL DEPARTMENTAL PROVISIONS › Chapter 265.1 - HAZARDOUS WASTE MANAGEMENT: INTERIM STATUS STANDARDS FOR OWNERS AND OPERATORS OF HAZARDOUS WASTE TREATMENT, STORAGE, AND DISPOSAL FACILITIES › Part 265 - INTERIM STATUS STANDARDS FOR OWNERS AND OPERATORS OF HAZARDOUS WASTE TREATMENT, STORAGE, AND DISPOSAL FACILITIES › Subpart H - Financial Requirements › Section 11-265.145 - Financial assurance for post-closure care

Current through June, 2024
By the effective date of these regulations, an owner or
						operator of a facility with a hazardous waste disposal unit must establish
						financial assurance for post-closure care of the disposal unit(s).
(a) Post-closure trust fund.
(1) An owner or operator may satisfy the
					 requirements of this section by establishing a post-closure trust fund which
					 conforms to the requirements of this paragraph and submitting an originally
					 signed duplicate of the trust agreement to the director. The trustee must be an
					 entity which has the authority to act as a trustee and whose trust operations
					 are regulated and examined by a Federal or State agency.
(2) The wording of the trust agreement must
					 be identical to the wording specified in § 264.151(a)(1), and the trust
					 agreement must be accompanied by a formal certification of acknowledgment (for
					 example, see § 264.151(a)(2)). Schedule A of the trust agreement must be
					 updated within 60 days after a change in the amount of the current post-closure
					 cost estimate covered by the agreement.
(3) Payments into the trust fund must be made
					 annually by the owner or operator over the 20 years beginning with the
					 effective date of these regulations or over the remaining operating life of the
					 facility as estimated in the closure plan, whichever period is shorter; this
					 period is hereafter referred to as the "pay-in period." The payments into the
					 post-closure trust fund must be made as follows:
(i) The first payment must be made by the
					 effective date of these regulations, except as provided in paragraph (a)(5) of
					 this section. The first payment must be at least equal to the current
					 post-closure cost estimate, except as provided in § 265.145(f), divided by
					 the number of years in the pay-in period.
(ii) Subsequent payments must be made no
					 later than 30 days after -each anniversary date of the first payment. The
					 amount of each subsequent payment must be determined by this formula:
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where CE is the current post-closure cost estimate, CV is
						the current value of the trust fund, and Y is the number of years remaining in
						the payin -period.
(4) The owner or operator may accelerate
					 payments into the trust fund or he may deposit the full amount of the current
					 post-closure cost estimate at the time the fund is established. However, he
					 must maintain the value of the fund at no less than the value that the fund
					 would have if annual payments were made as specified in paragraph (a)(3) of
					 this section.
(5) If the owner or
					 operator establishes a post-closure trust fund after having used one or more
					 alternate mechanisms specified in this section, his first payment must be in at
					 least the amount that the fund would contain if the trust fund were established
					 initially and annual payments made -as specified in paragraph (a)(3) of this
					 section.
(6) After the pay-in
					 period is completed, whenever the current post-closure cost estimate changes
					 during the operating life of the facility, the owner or operator must compare
					 the new estimate with the trustee's most recent annual valuation of the trust
					 fund. If the value of the fund is less than the amount of the new estimate, the
					 owner or operator, within 60 days after the change in the cost estimate, must
					 either deposit an amount into the fund so that its value after this deposit at
					 least equals the amount of the current post-closure cost estimate, or obtain
					 other financial assurance as specified in this section to cover the
					 difference.
(7) During the
					 operating life of the facility, if the value of the trust fund is greater than
					 the total amount of the current post-closure cost estimate, the owner or
					 operator may submit a written request to the director for release of the amount
					 in -excess of the current post-closure cost estimate.
(8) If an owner or operator substitutes other
					 financial assurance as specified in this section for all or part of the trust
					 fund, he may submit a written request to the director for release of the amount
					 in excess of the current post-closure cost estimate covered by the trust
					 fund.
(9) Within 60 days after
					 receiving a request from the owner or operator for release of funds as
					 specified in paragraph (a) (7) or (8) of this section, the director will
					 instruct the trustee to release to the owner or operator such funds as the
					 director specifies in writing.
(10)
					 During the period of post-closure care, the director may approve a release of
					 funds if the owner or operator demonstrates to the director that the value of
					 the trust fund exceeds the remaining cost of post-closure care.
(11) An owner or operator or any other person
					 authorized to conduct post-closure care may request reimbursements for
					 post-closure expenditures by submitting itemized bills to the director. Within
					 60 days after receiving bills for post-closure care activities, the director
					 will instruct the trustee to make reimbursements in those amounts as the
					 director specifies in writing, if the director determines that the post-closure
					 expenditures are in accordance with the approved post-closure plan or otherwise
					 justified. If the director does not instruct the trustee to make such
					 reimbursements, he will provide the owner or operator with a detailed written
					 statement of reasons.
(12) The
					 director will agree to termination of the trust when:
(i) An owner or operator substitutes
					 alternate financial assurance as specified in this section; or
(ii) The director releases the owner or
					 operator from the requirements of this section in accordance with §
					 265.145(h).