Texas Administrative Code › Title 30 - ENVIRONMENTAL QUALITY › Part 1 - TEXAS COMMISSION ON ENVIRONMENTAL QUALITY › Chapter 37 - FINANCIAL ASSURANCE › Subchapter T - FINANCIAL ASSURANCE FOR RADIOACTIVE SUBSTANCES AND AQUIFER RESTORATION › Section 37.9045 - Financial Assurance Requirements for Closure, Post Closure, and Corrective Action

Current through Reg. 49, No. 28; July 12, 2024
(a) An owner or
				  operator subject to this subchapter shall establish financial assurance for the
				  closure, post closure, and corrective action of the facility that meets the
				  requirements of this section, in addition to the requirements specified under
				  Subchapters A, B, C, and D of this chapter (relating to General Financial
				  Assurance Requirements; Financial Assurance Requirements for Closure, Post
				  Closure, and Corrective Action; Financial Assurance Mechanisms for Closure,
				  Post Closure, and Corrective Action; and Wording of the Mechanisms for Closure,
				  Post Closure, and Corrective Action).
(1) An
				  owner or operator subject to this subchapter may use any of the mechanisms as
				  specified in §
											37.9050
				  of this title (relating to Financial Assurance Mechanisms) to demonstrate
				  financial assurance for closure, post closure, and corrective action. On a
				  case-by-case basis, the executive director may approve other alternative
				  financial assurance mechanisms.
(2)
				  The executive director will respond within 60 days after receiving a written
				  request for a financial assurance reduction in accordance with §
											37.151
				  of this title (relating to Decrease in Current Cost Estimate).
(3) An owner or operator may use multiple
				  financial assurance mechanisms provided in §
											37.41
				  of this title (relating to Use of Multiple Financial Assurance Mechanisms), but
				  must use only those financial assurance mechanisms as specified in §
											37.9050
				  of this title.
(4) The executive
				  director may accept financial assurance established to meet requirements of
				  other federal, state agencies, or local governing bodies for closure or post
				  closure, provided such mechanism complies with the requirements of this chapter
				  and the full amount of financial assurance required for the specific license is
				  clearly identified and committed for use for the purposes of Chapter 336,
				  Subchapters G, H, L, and M of this title (relating to Decommissioning
				  Standards; Licensing Requirements for Near-Surface Land Disposal of Low-Level
				  Radioactive Waste; Licensing of Source Material Recovery and By-Product
				  Material Disposal Facilities; and Licensing of Radioactive Substances
				  Processing and Storage Facilities).
(5) Proof of forfeiture must not be necessary
				  to collect the financial assurance, so that in the event that the owner or
				  operator does not provide acceptable replacement financial assurance within the
				  required time prior to the expiration, cancellation, or termination of the
				  financial assurance mechanism, the financial assurance provider shall pay the
				  face amount of the financial assurance to the State of Texas for deposit as
				  specified in paragraph (6) of this subsection.
(6) All financial assurance required under
				  §§336.619, 336.736 - 336.738, 336.1125, and 336.1235 of this title
				  (relating to Financial Assurance for Decommissioning; Liability Coverage and
				  Funding for Disposal Site Closure and Stabilization; Funding for Institutional
				  Control; Funding for Corrective Action; Financial Assurance Requirements; and
				  Financial Assurance for Storage and Processing) to be converted to cash by
				  direction of the executive director pursuant to §
											37.101
				  of this title (relating to Drawing on the Financial Assurance Mechanisms) and
				  paragraph (5) of this subsection shall be payable to the State of Texas for
				  deposit to the credit of the perpetual care account or upon the Environmental
				  Radiation and Perpetual Care Account being recreated and rededicated by
				  legislation, then such financial assurance proceeds as described in this
				  subsection shall be paid to the State of Texas for deposit to the credit of the
				  Environmental Radiation and Perpetual Care Account.