AMEND SW FINANCIAL ASSURANCE RQMTS.

View NCGA Bill Details2011-2012 Session
House Bill 209 (Public) Filed Wednesday, March 2, 2011
TO AMEND CERTAIN FINANCIAL ASSURANCE REQUIREMENTS APPLICABLE TO OWNERS AND OPERATORS OF SANITARY LANDFILLS TO (1) DECREASE THE MINIMUM AMOUNT OF FINANCIAL ASSURANCE THAT MUST BE ESTABLISHED TO COVER COSTS FOR POTENTIAL ASSESSMENT AND CORRECTIVE ACTION AT A FACILITY; AND (2) AUTHORIZE THE USE OF A TRUST FUND PAY-IN PERIOD AS AN ALLOWABLE MECHANISM TO ESTABLISH THE FINANCIAL ASSURANCE NECESSARY FOR POTENTIAL ASSESSMENT AND CORRECTIVE ACTION AT A FACILITY.
Intro. by Ingle, Gillespie.

Status: Ch. SL 2011-262 (House Action) (Jun 23 2011)
H 209/S.L. 2011-262

Bill Summaries:

  • Summary date: Jun 30 2011 - More information

    AN ACT TO AMEND CERTAIN FINANCIAL ASSURANCE REQUIREMENTS APPLICABLE TO OWNERS AND OPERATORS OF SOLID WASTE MANAGEMENT FACILITIES TO (1) AUTHORIZE THE USE OF A CORPORATE FINANCIAL TEST AS AN ALLOWABLE MECHANISM TO ESTABLISH THE FINANCIAL ASSURANCE NECESSARY FOR CLOSURE, POST-CLOSURE MAINTENANCE AND MONITORING, AND ANY CORRECTIVE ACTION THAT MAY BE REQUIRED AT THE FACILITY; (2) DECREASE THE MINIMUM AMOUNT OF FINANCIAL ASSURANCE THAT MUST BE ESTABLISHED TO COVER COSTS FOR POTENTIAL ASSESSMENT AND CORRECTIVE ACTION AT A FACILITY; AND (3) AUTHORIZE THE USE OF A TRUST FUND PAY-IN PERIOD AS AN ALLOWABLE MECHANISM TO ESTABLISH THE FINANCIAL ASSURANCE NECESSARY FOR POTENTIAL ASSESSMENT AND CORRECTIVE ACTION AT A FACILITY. Summarized in Daily Bulletin 3/2/11 and 6/13/11. Enacted June 23, 2011. Effective June 23, 2011.


  • Summary date: Jun 13 2011 - More information

    Senate committee substitute makes the following changes to 1st edition. Amends GS 130A-295.2(f) to clarify that the rules adopted by the Commission for Public Health must (previously may) allow a business entity that is an applicant for a permit or a permit holder to establish financial assurance through insurance, irrevocable letters of credit, trust, surety bonds, corporate financial tests, or any other financial device as allowed pursuant to 40 CFR ยง 258.74 (July 1, 2010 Edition). Provides that where a corporate financial test is used that is substantially similar to the test allowed under the federal law above, the assets are presumed to be readily accessible by the Department of Health and Human Services and not otherwise accessible to the permit holder. Makes a conforming change to the bill title.


  • Summary date: Mar 2 2011 - More information

    Amends GS 130A-295.2 as the title indicates. Decreases the minimum amount of the financial assurance to be established by the owner or operator of a sanitary landfill to cover costs for potential assessment and corrective action at a facility to a minimum of $2 million (was, $3 million). Allows the owner or operator of a sanitary landfill issued a permit on or before August 1, 2009, to meet the financial assurance requirement by establishing a trust fund. Sets the minimum requirements to which the trust fund must conform.


Printer-friendly: Click to view