Ill. Admin. Code tit. 35, § 725.244 - Cost Estimate for Post-Closure Care
a) The owner or operator of a hazardous waste
disposal unit must have a detailed written estimate, in current dollars, of the
annual cost of post-closure monitoring and maintenance of the facility in
accordance with the applicable post-closure regulations in Section
725.217
through
725.220,
725.328,
725.358,
725.380,
and
725.410.
1) The post-closure cost estimate must be
based on the costs to the owner or operator of hiring a third party to conduct
post-closure care activities. A third party is a party that is neither a parent
nor a subsidiary of the owner or operator. (See the definition of "parent
corporation" in Section
725.241(d).)
2) The post-closure cost estimate is
calculated by multiplying the annual post-closure cost estimate by the number
of years of post-closure care required under Section 725.217.
b) During the active life of the
facility, the owner or operator must adjust the post-closure cost estimate for
inflation within 30 days after each anniversary of the date on which the first
post-closure cost estimate was prepared. The adjustment must be made 60 days
prior to the anniversary date of the establishment of the financial instruments
used to comply with Section
725.245.
For an owner or operator using the financial test or corporate guarantee, the
closure cost estimate must be updated for inflation within 30 days after the
close of the firm's fiscal year and before submission of updated information to
the Agency as specified in Section
725.245(e)(5).
The adjustment may be made by recalculating the post-closure cost estimate in
current dollars, or by using an inflation factor derived from the annual
Implicit Price Deflator for Gross National Product as published by the U.S.
Department of Commerce in its Survey of Current Business as specified in
subsections (b)(1) and (b)(2). The inflation factor is the result of dividing
the latest published annual Deflator by the Deflator for the previous year.
1) The first adjustment is made by
multiplying the post-closure estimate by the inflation factor. The result is
the adjusted post-closure cost estimate.
2) Subsequent adjustments are made by
multiplying the latest adjusted post-closure cost estimate by the latest
inflation factor.
c)
During the active life of the facility, the owner or operator must revise the
post-closure cost estimate whenever a change in the post-closure plan no later
than 30 days after a revision to the post-closure plan that increases the cost
of post-closure care. If the owner or operator has an approved post-closure
plan, the post-closure cost estimate must be revised no later than 30 days
after the Agency has approved the request to modify the plan if the change in
the post-closure plan increases the cost of post-closure care. The revised
post-closure cost estimate must be adjusted for inflation as specified in
subsection (b).
d) The owner or
operator must keep the following at the facility during the operating life of
the facility: the latest post-closure cost estimate prepared in accordance with
subsections (a) and (c) and, when this estimate has been adjusted in accordance
with subsection (b), the latest adjusted post-closure cost estimate.
Notes
Amended at 29 Ill. Reg. 6389, effective April 22, 2005
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.