Ohio Administrative Code › Title 3745 - Ohio Environmental Protection Agency › Chapter 3745-51 - Identification and Listing of Hazardous Waste › Section 3745-51-143 - Financial assurance condition - management of excluded hazardous secondary materials

Current through all regulations passed and
			 filed through July 1, 2024
Under paragraph (A)(24)(f)(vi) of rule
				3745-51-04 of the Administrative
				Code, an owner or operator of a reclamation or intermediate facility shall have
				financial assurance as a condition of the exclusion as required under paragraph
				(A)(24) of rule
				3745-51-04 of the Administrative
				Code. The owner or operator shall choose from the options as specified in
				paragraphs (A) to (E) of this rule.
(A)
								Trust fund.
(1)
									An owner or
			 operator may satisfy the requirements of this rule by establishing a 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
			 shall 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 shall be identical
			 to the wording specified in paragraph (A)(1) of rule
			 3745-51-151 of the
			 Administrative Code, and the trust agreement shall be accompanied by a formal
			 certification of acknowledgment (for example, see paragraph (A)(2) of rule
			 3745-51-151 of the
			 Administrative Code.) "Schedule A" of the trust agreement shall be updated
			 within sixty days after a change in the amount of the current cost estimate
			 covered by the agreement.
(3)
									The trust fund shall be funded for the full amount of
			 the current cost estimate before the trust fund may be relied upon to satisfy
			 the requirements of this rule.
(4)
									Whenever the
			 current cost estimate changes, the owner or operator shall compare the new
			 estimate with the trustee's most recent annual valuation of the trust fund. If
			 the value of the trust fund is less than the amount of the new estimate, the
			 owner or operator, within sixty days after the change in the cost estimate,
			 shall either deposit an amount into the trust fund so that the value of the
			 trust fund after this deposit at least equals the amount of the current cost
			 estimate, or obtain other financial assurance as specified in this rule to
			 cover the difference.
(5)
									If the value of the trust fund is greater than the
			 total amount of the current cost estimate, the owner or operator may submit a
			 written request to the director for release of the amount in excess of the
			 current cost estimate.
(6)
									If an owner or operator substitutes other financial
			 assurance as specified in this rule for all or part of the trust fund, the
			 owner or operator may submit a written request to the director for release of
			 the amount in excess of the current cost estimate covered by the trust
			 fund.
(7)
									Within sixty days after receiving a request from the
			 owner or operator for release of funds as specified in paragraph (A)(5) or
			 (A)(6) of this rule, the director will instruct the trustee to release to the
			 owner or operator such funds as the director specifies in writing. If the owner
			 or operator begins final closure under rules
			 3745-55-10 to
			 3745-55-20 of the Administrative
			 Code or rules
			 3745-66-10 to
			 3745-66-21 of the Administrative
			 Code, an owner or operator may request reimbursements for partial or final
			 closure expenditures by submitting itemized bills to the director. The owner or
			 operator may request reimbursements for partial closure only if sufficient
			 funds are remaining in the trust fund to cover the maximum costs of closing the
			 facility over the remaining operating life of the facility. No later than sixty
			 days after receiving bills for partial or final closure 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 partial
			 or final closure expenditures are in accordance with the approved closure plan,
			 or otherwise justified. If the director has reason to believe that the maximum
			 cost of closure over the remaining life of the facility will be significantly
			 greater than the value of the trust fund, the director may withhold
			 reimbursements of such amounts as the director deems prudent until the director
			 determines, in accordance with paragraph (I) of rule
			 3745-66-43 of the Administrative
			 Code that the owner or operator is no longer required to maintain financial
			 assurance for final closure of the facility. If the director does not instruct
			 the trustee to make such reimbursements, the director will provide to the owner
			 or operator a detailed written statement of reasons.
(8)
									The director will
			 agree to termination of the trust when:
(a)
										An owner or
			 operator substitutes alternate financial assurance as specified in this rule;
			 or
(b)
										The director releases the owner or operator from the
			 requirements of this rule in accordance with paragraph (I) of this
			 rule.