Utah Administrative Code
Topic - Environmental Quality
Title R315 - Waste Management and Radiation Control, Waste Management
Rule R315-264 - Standards for Owners and Operators of Hazardous Waste Treatment, Storage, and Disposal Facilities
Section R315-264-142 - Cost Estimate for Closure
Current through Bulletin 2024-06, March 15, 2024
(a) The owner or operator shall have a detailed written estimate, in current dollars, of the cost of closing the facility in accordance with the requirements in Sections R315-264-111 through 115 and applicable closure requirements in Sections R315-264-178, 197, 228, 258, 280, 310, 351, 601 through 603, and 1102.
(b) During the active life of the facility, the owner or operator shall adjust the closure cost estimate for inflation within 60 days prior to the anniversary date of the establishment of the financial instrument(s) used to comply with Section R315-264-143. For owners and operators using the financial test or corporate guarantee, the closure cost estimate shall be updated for inflation within 30 days after the close of the firm's fiscal year and before submission of updated information to the Director as specified in Subsection R315-264-143(f)(3). The adjustment may be made by recalculating the maximum costs of closure in current dollars, or by using an inflation factor derived from the most recent Implicit Price Deflator for Gross National Product published by the U.S. Department of Commerce in its Survey of Current Business, as specified in Subsections R315-264-142(b)(1) and (2). The inflation factor is the result of dividing the latest published annual Deflator by the Deflator for the previous year.
(c) During the active life of the facility, the owner or operator shall revise the closure cost estimate no later than 30 days after the Director has approved the request to modify the closure plan, if the change in the closure plan increases the cost of closure. The revised closure cost estimate shall be adjusted for inflation as specified in Subsection R315-264-142(b).
(d) The owner or operator shall keep the following at the facility during the operating life of the facility: The latest closure cost estimate prepared in accordance with Subsection R315-264-142(a) and (c) and, when this estimate has been adjusted in accordance with Subsection R315-264-142(b), the latest adjusted closure cost estimate