Wisconsin Administrative Code
Department of Natural Resources
NR 600-699 - Environmental Protection - Hazardous Waste Management
Chapter NR 667 - Standards For Owners And Operators Of Hazardous Waste Facilities Operating Under A Standardized License
Subchapter H - Financial Requirements
Section NR 667.0142 - Cost estimate for closure

Universal Citation: WI Admin Code § NR 667.0142

Current through August 26, 2024

(1) The owner or operator shall have at the facility a detailed written estimate, in current dollars, of the cost of closing the facility according to the requirements in ss. NR 667.0111 to 667.0115 and applicable closure requirements in ss. NR 667.0176, 667.0201, and 667.1108.

(a) The estimate shall equal the cost of final closure at the point in the facility's active life when the extent and manner of its operation would make closure the most expensive, as indicated by the closure plan (see s. NR 667.0112(2)).

(b) The closure cost estimate shall be based on the costs to the owner or operator of hiring a third party to close the facility. A third party is a party who is neither a parent nor a subsidiary of the owner or operator. (See definition of parent corporation in s. NR 667.0141(4).)

(c) The closure cost estimate may not incorporate any salvage value that may be realized with the sale of hazardous wastes or non-hazardous wastes, facility structures or equipment, land, or other assets associated with the facility at the time of partial or final closure.

(d) The owner or operator may not incorporate a zero cost for hazardous wastes or non-hazardous wastes that might have economic value.

(2) 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 instruments used to comply with s. NR 667.0143. 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 department as specified in s. NR 667.0143(6) (b) 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 Domestic Product published by the U.S. department of commerce in its Survey of Current Business, as specified in pars. (a) and (b). The inflation factor is the result of dividing the latest published annual Deflator by the Deflator for the previous year.

(a) The first adjustment is made by multiplying the closure cost estimate by the inflation factor. The result is the adjusted closure cost estimate.

(b) Subsequent adjustments are made by multiplying the latest adjusted closure cost estimate by the latest inflation factor.

(3) During the active life of the facility, the owner or operator shall revise the closure cost estimate no later than 30 days after the department 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 sub. (2).

(4) The owner or operator shall keep the following at the facility during the operating life of the facility: The latest closure cost estimate prepared according to subs. (1) and (3) and, when this estimate has been adjusted according to sub. (2), the latest adjusted closure cost estimate.

Disclaimer: These regulations may not be the most recent version. Wisconsin 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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