Oklahoma Administrative Code
Title 252 - Department of Environmental Quality
Chapter 653 - Aquifer Storage and Recovery
Subchapter 11 - Cost Estimates And Financial Assurance
Section 252:653-11-7 - Annual adjustments to cost estimates
Current through Vol. 41, No. 13, March 15, 2024
(a) Adjustment required. Except as provided in (b) and (c) of this Section, cost estimates for closure and/or corrective action shall be adjusted no later than April 1st of each year. The adjustment must be submitted to DEQ for approval.
(b) Corporate test or guarantee as financial assurance mechanism. When the corporate test (OAC 252:653-11-18 ) or guarantee (OAC 252:653-11-20 ) is used as the financial assurance mechanism, the cost estimates for closure and/or corrective action shall be adjusted no later than 90 days after the close of the corporate fiscal year.
(c) Local government test or guarantee as financial assurance mechanism. When the local government test (OAC 252:653-11-19 ) or guarantee (OAC 252:653-11-21 ) is used as the financial assurance mechanism, the cost estimates for closure and/or corrective action shall be adjusted no later than 180 days after the close of the municipal government's fiscal year. The financial strength information specified in OAC 252:653-11-19(h) shall be submitted to DEQ for approval.