Illinois Administrative Code
Title 35 - ENVIRONMENTAL PROTECTION
Part 811 - STANDARDS FOR NEW SOLID WASTE LANDFILLS
Subpart G - FINANCIAL ASSURANCE
Section 811.718 - Discounting
Current through Register Vol. 48, No. 12, March 22, 2024
For facilities providing financial assurance solely through a trust fund, the Agency shall allow discounting of closure cost estimates, post-closure cost estimates, and corrective action cost estimates in Section 811.704 up to the rate of return for essentially risk free investments, net of inflation, under the following conditions:
a) The Agency determines that cost estimates are complete and accurate and the owner or operator has submitted a statement from a professional engineer, as defined in Section 810.103, so stating;
b) The Agency finds the facility in compliance with applicable and appropriate permit conditions;
c) The Agency determines that the closure date is certain, and the owner or operator certifies that there are no foreseeable factors that will change the estimate of site life; and
d) Discounted cost estimates are adjusted annually to reflect inflation and the anticipated years of remaining life.
BOARD NOTE: Derived from 40 CFR 258.75, added at 61 Fed. Reg. 60327 (Nov. 27, 1996).
