Illinois Administrative Code
Title 35 - ENVIRONMENTAL PROTECTION
Part 725 - INTERIM STATUS STANDARDS FOR OWNERS AND OPERATORS OF HAZARDOUS WASTE TREATMENT, STORAGE, AND DISPOSAL FACILITIES
Subpart H - FINANCIAL REQUIREMENTS
Section 725.245 - Financial Assurance for Post-Closure Monitoring and Maintenance
Universal Citation: 35 IL Admin Code ยง 725.245
Current through Register Vol. 48, No. 38, September 20, 2024
An owner or operator of a facility with a hazardous waste disposal unit must establish financial assurance for post-closure care of the disposal units. The owner or operator must choose from the following options:
a) Post-Closure Trust Fund
1) An owner or operator may satisfy the
requirements of this Section by establishing a post-closure trust fund that
conforms to the requirements of this subsection and submitting an original,
signed duplicate of the trust agreement to the Agency. The trustee must be an
entity that has the authority to act as a trustee and whose trust operations
are regulated and examined by a federal or State agency.
2) The wording of the trust agreement must be
as specified in 35 Ill. Adm. Code
724.251
and the trust agreement must be accompanied by a formal certification of
acknowledgment (as specified in 35 Ill. Adm. Code 724.251). Schedule A of the
trust agreement must be updated within 60 days after a change in the amount of
the current post-closure cost estimate covered by the agreement.
3) Payments into the trust fund must be made
annually by the owner or operator over the remaining operating life of the
facility as estimated in the closure plan; this period is hereafter referred to
as the "pay-in period". The payments into the post-closure trust fund must be
made as follows:
A) The first payment must be
at least equal to the current post-closure cost estimate, except as provided in
subsection (f), divided by the number of years in the pay-in period.
B) Subsequent payments must be made no later
than 30 days after each anniversary date of the first payment. The amount of
each subsequent payment must be determined by this formula:
|
Next Payment |
= |
(CE-CV) |
|
Y |
Where:
|
CE |
= |
the current closure cost estimate |
|
CV |
= |
the current value of the trust fund |
|
Y |
= |
the number of years remaining in the pay-in period |
4) The owner or operator may accelerate
payments into the trust fund or may deposit the full amount of the current
post-closure cost estimate at the time the fund is established. However, the
owner or operator must maintain the value of the fund at no less than the value
that the fund would have if annual payments were made as specified in
subsection (a)(3).
5) If the owner
or operator establishes a post-closure trust fund after having used one or more
alternate mechanisms specified in this Section, the owner or operator's first
payment must be in at least the amount that the fund would contain if the trust
fund were established initially and annual payments made as specified in
subsection (a)(3).
6) After the
pay-in period is completed, whenever the current post-closure cost estimate
changes during the operating life of the facility, the owner or operator must
compare the new estimate with the trustee's most recent annual valuation of the
trust fund. If the value of the fund is less than the amount of the new
estimate, the owner or operator, within 60 days after the change in the cost
estimate, must either deposit an amount into the fund so that its value after
this deposit at least equals the amount of the current post-closure cost
estimate, or obtain other financial assurance as specified in this Section to
cover the difference.
7) During the
operating life of the facility, if the value of the trust fund is greater than
the total amount of the current post-closure cost estimate, the owner or
operator may submit a written request to the Agency for release of the amount
in excess of the current post-closure cost estimate.
8) If an owner or operator substitutes other
financial assurance as specified in this Section for all or part of the trust
fund, owner or operator may submit a written request to the Agency for release
of the amount in excess of the current post-closure cost estimate covered by
the trust fund.
9) Within 60 days
after receiving a request from the owner or operator for release of funds as
specified in subsection (a)(7) or (a)(8), the Agency must instruct the trustee
to release to the owner or operator such funds as the Agency specifies in
writing.
10) During the period of
post-closure care, the Agency must approve a release of funds if the owner or
operator demonstrates to the Agency that the value of the trust fund exceeds
the remaining cost of post-closure care.
11) An owner or operator or any other person
authorized to perform post-closure care may request reimbursement for
post-closure care expenditures by submitting itemized bills to the Agency.
Within 60 days after receiving bills for post-closure activities, the Agency
must instruct the trustee to make reimbursement in those amounts as the Agency
specifies in writing if the Agency determines that the post-closure care
expenditures are in accordance with the approved post-closure plan or otherwise
justified. If the Agency does not instruct the trustee to make such
reimbursements, the Agency must provide the owner or operator with a detailed
written statement of reasons.
12)
The Agency must agree to termination of a trust when either of the following
occurs:
A) An owner or operator substitutes
alternate financial assurance, as specified in this Section; or
B) The Agency releases the owner or operator
from the requirements of this Section in accordance with subsection
(h).
b) Surety Bond Guaranteeing Payment into a Post-Closure Trust Fund
1) An owner or operator may satisfy the
requirements of this Section by obtaining a surety bond that conforms to the
requirements of this subsection (b) and submitting the bond to the Agency. The
surety company issuing the bond must, at a minimum, be among those listed as
acceptable sureties on federal bonds in Circular 570 of the U.S. Department of
the Treasury.
BOARD NOTE: The U.S. Department of the Treasury updates
Circular 570, "Companies Holding Certificates of Authority as Acceptable
Sureties on Federal Bonds and as Acceptable Reinsuring Companies", on an annual
basis pursuant to
31 CFR
223.16. Circular 570 is available on the
Internet from the following website:
2) The wording of the surety bond must be as
specified in 35 Ill. Adm. Code 724.251.
3) The owner or operator that uses a surety
bond to satisfy the requirements of this Section must also establish a standby
trust fund. Under the terms of the bond, all payments made thereunder will be
deposited by the surety directly into the standby trust fund in accordance with
instructions from the Agency. This standby trust fund must meet the
requirements specified in subsection (a), except as follows:
A) An original, signed duplicate of the trust
agreement must be submitted to the Agency with the surety bond; and
B) Until the standby trust fund is funded
pursuant to the requirements of this Section, the following are not required by
these regulations:
i) Payments into the trust
fund, as specified in subsection (a);
ii) Updating of Schedule A of the trust
agreement (as specified in 35 Ill. Adm. Code 724.251) to show current
post-closure cost estimates;
iii)
Annual valuations, as required by the trust agreement; and
iv) Notices of nonpayment, as required by the
trust agreement.
4) The bond must guarantee that the owner or
operator will perform the following acts:
A)
Fund the standby trust fund in an amount equal to the penal sum of the bond
before the beginning of final closure of the facility; or
B) Fund the standby trust fund in an amount
equal to the penal sum within 15 days after an order to begin closure is issued
by the Board or a court of competent jurisdiction; or
C) Provide alternate financial assurance, as
specified in this Section, and obtain the Agency's written approval of the
assurance provided, within 90 days after receipt by both the owner or operator
and the Agency of a notice of cancellation of the bond from the
surety.
5) Under the
terms of the bond, the surety will become liable on the bond obligation when
the owner or operator fails to perform as guaranteed by the bond.
6) The penal sum of the bond must be in an
amount at least equal to the current post-closure cost estimate, except as
provided in subsection (f).
7)
Whenever the current post-closure cost estimate increases to an amount greater
than the penal sum, the owner or operator, within 60 days after the increase,
must either cause the penal sum to be increased to an amount at least equal to
the current post-closure cost estimate and submit evidence of such increase to
the Agency or obtain other financial assurance as specified in this Section to
cover the increase. Whenever the current post-closure cost estimate decreases,
the penal sum may be reduced to the amount of the current post-closure cost
estimate following written approval by the Agency.
8) Under the terms of the bond, the surety
may cancel the bond by sending notice of cancellation by certified mail to the
owner or operator and to the Agency. Cancellation may not occur, however,
during the 120 days beginning on the date of receipt of the notice of
cancellation by both the owner or operator and the Agency, as evidenced by the
return receipts.
9) The owner or
operator may cancel the bond if the Agency has given prior written consent
based on its receipt of evidence of alternate financial assurance as specified
in this Section.
c) Post-Closure Letter of Credit
1) An owner or
operator may satisfy the requirements of this Section by obtaining an
irrevocable standby letter of credit that conforms to the requirements of this
subsection (c) and submitting the letter to the Agency. The issuing institution
must be an entity that has the authority to issue letters of credit and whose
letter-of-credit operations are regulated and examined by a federal or State
agency.
2) The wording of the
letter of credit must be as specified in 35 Ill. Adm. Code 724.251.
3) An owner or operator that uses a letter of
credit to satisfy the requirements of this Section must also establish a
standby trust fund. Under the terms of the letter of credit, all amounts paid
pursuant to a draft by the Agency must be deposited by the issuing institution
directly into the standby trust fund in accordance with instructions from the
Agency. This standby trust fund must meet the requirements of the trust fund
specified in subsection (a), except as follows:
A) An original, signed duplicate of the trust
agreement must be submitted to the Agency with the letter of credit;
and
B) Unless the standby trust
fund is funded pursuant to the requirements of this Section, the following are
not required by these regulations:
i)
Payments into the trust fund, as specified in subsection (a);
ii) Updating of Schedule A of the trust
agreement (as specified in 35 Ill. Adm. Code
724.151
) to show current post-closure cost estimates;
iii) Annual valuations, as required by the
trust agreement; and
iv) Notices of
nonpayment, as required by the trust agreement.
4) The letter of credit must be accompanied
by a letter from the owner or operator referring to the letter of credit by
number, issuing institution, and date and providing the following information:
the USEPA identification number, name, and address of the facility, and the
amount of funds assured for post-closure care of the facility by the letter of
credit.
5) The letter of credit
must be irrevocable and issued for a period of at least one year. The letter of
credit must provide that the expiration date will be automatically extended for
a period of at least one year unless, at least 120 days before the current
expiration date, the issuing institution notifies both the owner or operator
and the Agency by certified mail of a decision not to extend the expiration
date. Under the terms of the letter of credit, the 120 days will begin on the
date when both the owner or operator and the Agency have received the notice,
as evidenced by the return receipts.
6) The letter of credit must be issued in an
amount at least equal to the current post-closure cost estimate, except as
provided in subsection (f).
7)
Whenever the current post-closure cost estimate increases to an amount greater
than the amount of the credit during the operating life of the facility, the
owner or operator, within 60 days after the increase, must either cause the
amount of the credit to be increased so that it at least equals the current
post-closure cost estimate and submit evidence of such increase to the Agency,
or obtain other financial assurance, as specified in this Section, to cover the
increase. Whenever the current cost estimate decreases during the operating
life of the facility, the amount of the credit may be reduced to the amount of
the current post-closure cost estimate following written approval by the
Agency.
8) During the period of
post-closure care, the Agency must approve a decrease in the amount of the
letter of credit if the owner or operator demonstrates to the Agency that the
amount exceeds the remaining cost of post-closure care.
9) Following a final judicial determination
or Board order finding that the owner or operator has failed to perform
post-closure care in accordance with the approved post-closure plan and other
interim status requirements, the Agency may draw on the letter of
credit.
10) If the owner or
operator does not establish alternate financial assurance, as specified in this
Section, and obtain written approval of such alternate assurance from the
Agency within 90 days after receipt by both the owner or operator and the
Agency of a notice from the issuing institution that it has decided not to
extend the letter of credit beyond the current expiration date, the Agency must
draw on the letter of credit. The Agency may delay the drawing if the issuing
institution grants an extension of the term of the credit. During the last 30
days after any such extension the Agency must draw on the letter of credit if
the owner or operator has failed to provide alternate financial assurance, as
specified in this Section, and obtain written approval of such assurance from
the Agency.
11) The Agency must
return the letter of credit to the issuing institution for termination when
either of the following occurs:
A) An owner
or operator substitutes alternate financial assurance, as specified in this
Section; or
B) The Agency releases
the owner or operator from the requirements of this Section in accordance with
subsection (h).
d) Post-Closure Insurance
1) An owner or operator may satisfy the
requirements of this Section by obtaining post-closure insurance that conforms
to the requirements of this subsection and submitting a certificate of such
insurance to the Agency. At a minimum, the insurer must be licensed to transact
the business of insurance, or eligible to provide insurance as an excess or
surplus lines insurer, in one or more states.
2) The wording of the certificate of
insurance must be as specified in 35 Ill. Adm. Code 724.251.
3) The post-closure insurance policy must be
issued for a face amount at least equal to the current post-closure estimate,
except as provided in subsection (f). The term "face amount" means the total
amount the insurer is obligated to pay under the policy. Actual payments by the
insurer will not change the face amount, although the insurer's future
liability will be lowered by the amount of the payments.
4) The post-closure insurance policy must
guarantee that funds will be available to provide post-closure care of facility
whenever the post-closure period begins. The policy must also guarantee that,
once post-closure care begins, the insurer will be responsible for paying out
funds, up to an amount equal to the face amount of the policy, upon the
direction of the Agency, to such party or parties as the Agency
specifies.
5) An owner or operator
or any other person authorized to perform post-closure care may request
reimbursement for post-closure care expenditures by submitting itemized bills
to the Agency. Within 60 days after receiving bills for post-closure
activities, the Agency must instruct the insurer to make reimbursement in such
amounts as the Agency specifies in writing, if the Agency determines that the
post-closure care expenditures are in accordance with the approved post-closure
plan or otherwise justified. If the Agency does not instruct the insurer to
make such reimbursements, the Agency must provide the owner or operator with a
detailed written statement of reasons.
6) The owner or operator must maintain the
policy in full force and effect until the Agency consents to termination of the
policy by the owner or operator, as specified in subsection (d)(11). Failure to
pay the premium, without substitution of alternate financial assurance, as
specified in this Section, will constitute a significant violation of these
regulations, warranting such remedy as the Board may impose pursuant to the
Environmental Protection Act. Such violation will be deemed to begin upon
receipt by the Agency of a notice of future cancellation, termination, or
failure to renew due to nonpayment of the premium, rather than upon the date of
expiration.
7) Each policy must
contain a provision allowing assignment of the policy to a successor owner or
operator. Such assignment may be conditional upon consent of the insurer,
provided such consent is not unreasonably refused.
8) The policy must provide that the insurer
may not cancel, terminate, or fail to renew the policy except for failure to
pay the premium. The automatic renewal of the policy must, at a minimum,
provide the insured with the option of renewal at the face amount of the
expiring policy. If there is a failure to pay the premium, the insurer may
elect to cancel, terminate, or fail to renew the policy by sending notice by
certified mail to the owner or operator and the Agency. Cancellation,
termination, or failure to renew may not occur, however, during the 120 days
beginning with the date of receipt of the notice by both the Agency and the
owner or operator, as evidenced by the return receipts. Cancellation,
termination, or failure to renew may not occur, and the policy will remain in
full force and effect in the event that, on or before the date of expiration,
one of the following occurs:
A) The Agency
deems the facility abandoned;
B)
Interim status is terminated or revoked;
C) Closure is ordered by the Board or a court
of competent jurisdiction;
D) The
owner or operator is named as debtor in a voluntary or involuntary proceeding
under 11 USC (Bankruptcy); or
E)
The premium due is paid.
9) Whenever the current post-closure cost
estimate increases to an amount greater than the face amount of the policy
during the operating life of the facility, the owner or operator, within 60
days after the increase, must either cause the face amount to be increased to
an amount at least equal to the current post-closure cost estimate and submit
evidence of such increase to the Agency, or obtain other financial assurance,
as specified in this Section, to cover the increase. Whenever the current
post-closure cost estimate decreases during the operating life of the facility,
the face amount may be reduced to the amount of the current post-closure cost
estimate following written approval by the Agency.
10) Commencing on the date that liability to
make payments pursuant to the policy accrues, the insurer must thereafter
annually increase the face amount of the policy. Such increase must be
equivalent to the face amount of the policy, less any payments made, multiplied
by an amount equivalent to 85 percent of the most recent investment rate or of
the equivalent coupon-issue yield announced by the U.S. Treasury for 26-week
Treasury securities.
11) The Agency
must give written consent to the owner or operator that the owner or operator
may terminate the insurance policy when either of the following occurs:
A) An owner or operator substitutes alternate
financial assurance, as specified in this Section; or
B) The Agency releases the owner or operator
from the requirements of this Section in accordance with subsection
(h).
e) Financial Test and Corporate Guarantee for Post-Closure Care
1) An owner or operator may satisfy the
requirements of this Section by demonstrating that the owner or operator passes
a financial test, as specified in this subsection (e). To pass this test the
owner or operator must meet the criteria of either subsection (e)(1)(A) or
(e)(1)(B):
A) The owner or operator must have
each of the following:
i) Two of the following
three ratios: a ratio of total liabilities to net worth less than 2.0; a ratio
of the sum of net income plus depreciation, depletion and amortization to total
liabilities greater than 0.1; and a ratio of current assets to current
liabilities greater than
1.5;
ii) Net working capital and tangible net
worth each at least six times the sum of the current closure and post-closure
cost estimates and the current plugging and abandonment cost
estimates;
iii) Tangible new worth
of at least $10 million; and
iv)
Assets in the United States amounting to at least 90 percent of total assets or
at least six times the sum of the current closure and post-closure cost
estimates and the plugging and abandonment cost estimates.
B) The owner or operator must have each of
the following:
i) A current rating for its
most recent bond issuance of AAA, AA, A, or BBB, as issued by Standard and
Poor's, or Aaa, Aa, A, or Baa, as issued by Moody's;
ii) Tangible net worth at least six times the
sum of the current closure and post-closure cost estimates and the current
plugging and abandonment cost estimates;
iii) Tangible net worth of at least $10
million; and
iv) Assets located in
the United States amounting to at least 90 percent of its total assets or at
least six times the sum of the current closure and post-closure cost estimates
and the current plugging and abandonment cost estimates.
2) The phrase "current closure and
post-closure cost estimates", as used in subsection (e)(1), refers to the cost
estimates required to be shown in subsections 1 through 4 of the letter from
the owner's or operator's chief financial officer (see 35 Ill. Adm. Code
724.251). The phrases "current plugging and abandonment cost estimates", as
used in subsection (e)(1), refers to the cost estimates required to be shown in
subsections 1 through 4 of the letter from the owner's or operator's chief
financial officer (see 35 Ill. Adm. Code
704.240
).
3) To demonstrate that it meets
this test, the owner or operator must submit each of the following items to the
Agency:
A) A letter signed by the owner's or
operator's chief financial officer and worded as specified in 35 Ill. Adm. Code
724.251;
B) A copy of the
independent certified public accountant's report on examination of the owner's
or operator's financial statements for the latest completed fiscal year;
and
C) A special report from the
owner's or operator's independent certified public accountant to the owner or
operator stating both of the following:
i)
That the accountant has compared the data that the letter from the chief
financial officer specifies as having been derived from the independently
audited, year-end financial statements for the latest fiscal year with the
amounts in such financial statements; and
ii) In connection with that procedure, that
no matters came to the accountant's attention that caused the accountant to
believe that the specified data should be adjusted.
4) This subsection (e)(4)
corresponds with
40 CFR
265.143(e)(4), a federal
provision relating to an extension of the time to file the proofs of financial
assurance required by this subsection (e) granted by USEPA. This statement
maintains structural consistency with the corresponding federal
regulations.
5) After the initial
submission of items specified in subsection (e)(3), the owner or operator must
send updated information to the Agency within 90 days after the close of each
succeeding fiscal year. This information must consist of all three items
specified in subsection (e)(3).
6)
If the owner or operator no longer meets the requirements of subsection (e)(1),
the owner or operator must send notice to the Agency of intent to establish
alternate financial assurance, as specified in this Section. The notice must be
sent by certified mail within 90 days after the end of the fiscal year for
which the year-end financial data show that the owner or operator no longer
meets the requirements. The owner or operator must provide the alternate
financial assurance within 120 days after the end of such fiscal
year.
7) The Agency may, based on a
reasonable belief that the owner or operator may no longer meet the
requirements of subsection (e)(1), require reports of financial condition at
any time from the owner or operator in addition to those specified in
subsection (e)(3). If the Agency finds, on the basis of such reports or other
information, that the owner or operator no longer meets the requirements of
subsection (e)(1), the owner or operator must provide alternate financial
assurance, as specified in this Section, within 30 days after notification of
such a finding.
8) The Agency may
disallow use of this test on the basis of qualifications in the opinion
expressed by the independent certified public accountant in the accountant's
report on examination of the owner's or operator's financial statements (see
subsection (e)(3)(B)). An adverse opinion or a disclaimer of opinion will be
cause for disallowance. The Agency must evaluate other qualifications on an
individual basis. The owner or operator must provide alternate financial
assurance, as specified in this Section, within 30 days after notification of
the disallowance.
9) During the
period of post-closure care, the Agency must approve a decrease in the current
post-closure cost estimate for which this test demonstrates financial assurance
if the owner or operator demonstrates to the Agency that the amount of the cost
estimate exceeds the remaining cost of post-closure care.
10) The owner or operator is no longer
required to submit the items specified in subsection (e)(3) when either of the
following occurs:
A) An owner or operator
substitutes alternate financial assurance, as specified in this Section;
or
B) The Agency releases the owner
or operator from the requirements of this Section in accordance with subsection
(h).
11) An owner or
operator may meet the requirements of this Section by obtaining a written
guarantee, hereafter referred to as "corporate guarantee". The guarantor must
be the direct or higher-tier parent corporation of the owner or operator, a
firm whose parent corporation is also the parent corporation of the owner or
operator, or a firm with a "substantial business relationship" with the owner
or operator. The guarantor must meet the requirements for owners or operators
in subsections (e)(1) through (e)(9), and must comply with the terms of the
corporate guarantee. The wording of the corporate guarantee must be identical
to the wording specified in 35 Ill. Adm. Code 724.251. The corporate guarantee
must accompany the items sent to the Agency as specified in subsection (e)(3).
One of these items must be the letter from the guarantor's chief financial
officer. If the guarantor's parent corporation is also the parent corporation
of the owner or operator, the letter must describe the value received in
consideration of the guarantee. If the guarantor is a firm with a "substantial
business relationship" with the owner or operator, this letter must describe
this substantial business relationship" and the value received in consideration
of the guarantee. The terms of the corporate guarantee must provide as follows:
A) That, if the owner or operator fails to
perform post-closure care of a facility covered by the corporate guarantee in
accordance with the post-closure plan and other interim status requirements
whenever required to do so, the guarantor will do so or establish a trust fund
as specified in subsection (a), in the name of the owner or operator.
B) That the corporate guarantee will remain
in force unless the guarantor sends notice of cancellation by certified mail to
the owner or operator and to the Agency. Cancellation may not occur, however,
during the 120 days beginning on the date of receipt of the notice of
cancellation by both the owner or operator and the Agency, as evidenced by the
return receipts.
C) That, if the
owner or operator fails to provide alternate financial assurance, as specified
in this Section, and obtain the written approval of such alternate assurance
from the Agency within 90 days after receipt by both the owner or operator and
the Agency of a notice of cancellation of the corporate guarantee from the
guarantor, the guarantor will provide such alternate financial assurance in the
name of the owner or operator.
f) Use of Multiple Financial Mechanisms. An owner or operator may satisfy the requirements of this Section by establishing more than one financial mechanism per facility. These mechanisms are limited to trust funds, surety bonds, letters of credit, and insurance. The mechanisms must be as specified in subsections (a) through (d), respectively, except that it is the combination of mechanisms, rather than the single mechanism, that must provide financial assurance for an amount at least equal to the current post-closure cost estimate. If an owner or operator uses a trust fund in combination with a surety bond or a letter of credit, it may use the trust fund as the standby trust fund for the other mechanisms. A single standby trust fund may be established for two or more mechanisms. The Agency may use any or all of the mechanisms to provide for post-closure care of the facility.
g) Use of a Financial Mechanism for Multiple Facilities. An owner or operator may use a financial assurance mechanism specified in this Section to meet the requirements of this Section for more than one facility. Evidence of financial assurance submitted to the Agency must include a list showing, for each facility, the USEPA Identification Number, name, address, and the amount of funds for post-closure care assured by the mechanism. The amount of funds available through the mechanism must be no less than the sum of funds that would be available if a separate mechanism had been established and maintained for each facility. The amount of funds available to the Agency must be sufficient to provide post-closure care for all of the owner or operator's facilities. In directing funds available through the mechanism for post-closure care of any of the facilities covered by the mechanism, the Agency may direct only the amount of funds designated for that facility, unless the owner or operator agrees to the use of additional funds available under the mechanism.
h) Release of the Owner or Operator from the Requirements of This Section. Within 60 days after receiving certifications from the owner or operator and a qualified Professional Engineer that the post-closure care period has been completed in accordance with the approved post-closure plan, the Agency must notify the owner or operator in writing that the owner or operator is no longer required by this Section to maintain financial assurance for post-closure care of that unit, unless the Agency determines that post-closure care has not been in accordance with the approved plan. The Agency must provide the owner or operator a detailed written statement of any such determination that post-closure care has not been in accordance with the approved post-closure plan.
i) Appeal. The following Agency actions are deemed to be permit modifications or refusals to modify for purposes of appeal to the Board (35 Ill. Adm. Code 702.184(e)(3) ):
1) An increase in, or a refusal to
decrease the amount of, a bond, letter of credit, or insurance; or
2) Requiring alternate assurance upon a
finding that an owner or operator or parent corporation no longer meets a
financial test.
Disclaimer: These regulations may not be the most recent version. Illinois may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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