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.
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.
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