Ill. Admin. Code tit. 35, § 704.189 - Financial Responsibility
a)
The permittee, including the transferor of a permit, is required to demonstrate
and maintain financial responsibility and resources to close, plug, and abandon
the underground injection operation in a manner prescribed by the Agency until
one of the following occurs:
1) The well has
been plugged and abandoned in accordance with an approved plugging and
abandonment plan pursuant to Section
704.181(f)
and 35 Ill. Adm. Code
730.110
and
730.192,
and the permittee has submitted a plugging and abandonment report pursuant to
Section
704.181(g);
2) The well has been converted in compliance
with Section
704.181(e);
or
3) The transferor of a permit
has received notice from the Agency that the owner or operator receiving
transfer of the permit (the new permittee) has demonstrated financial
responsibility for the well.
b) The permittee must show evidence of
financial responsibility to the Agency by the submission of a surety bond or
other adequate assurance, such as financial statements or other materials
acceptable to the Agency. The Agency may on a periodic basis require the holder
of a life-time permit to submit an estimate of the resources needed to plug and
abandon the well revised to reflect inflation of such costs, and a revised
demonstration of financial responsibility if necessary. For a Class VI
injection well, the permittee must show evidence of financial responsibility to
the Agency by the submission of an instrument that fulfills the requirements of
35 Ill. Adm. Code
730.185(a),
such as a financial statement or other materials necessary for an Agency
evaluation of the adequacy of the submitted financial assurance.
c) The owner or operator of a Class I
hazardous waste injection well must comply with the financial responsibility
requirements set forth in Subpart G. The owner or operator of a Class VI
injection well must comply with the financial responsibility requirements set
forth in 35 Ill. Adm. Code 730.185.
Notes
Amended at 36 Ill. Reg. 1613, effective January 20, 2012
BOARD NOTE: Derived from 40 CFR 144.52(a)(7) (2017).
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