[Code of Federal Regulations]
[Title 40, Volume 24]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 40CFR264.149]

[Page 286]
 
                   TITLE 40--PROTECTION OF ENVIRONMENT
 
         CHAPTER I--ENVIRONMENTAL PROTECTION AGENCY (CONTINUED)
 
PART 264_STANDARDS FOR OWNERS AND OPERATORS OF HAZARDOUS WASTE TREATMENT, 
STORAGE, AND DISPOSAL FACILITIES--Table of Contents
 
                    Subpart H_Financial Requirements
 
Sec. 264.149  Use of State-required mechanisms.

    (a) For a facility located in a State where EPA is administering the 
requirements of this subpart but where the State has hazardous waste 
regulations that include requirements for financial assurance of closure 
or post-closure care or liability coverage, an owner or operator may use 
State-required financial mechanisms to meet the requirements of Sec. 
264.143, Sec. 264.145, or Sec. 264.147, if the Regional Administrator 
determines that the State mechanisms are at least equivalent to the 
financial mechanism specified in this subpart. The Regional 
Administrator will evaluate the equivalency of the mechanisms 
principally in terms of (1) certainty of the availability of funds for 
the required closure or post-closure care activities or liability 
coverage and (2) the amount of funds that will be made available. The 
Regional Administrator may also consider other factors as he deems 
appropriate. The owner or operator must submit to the Regional 
Administrator evidence of the establishment of the mechanism together 
with a letter requesting that the State-required mechanism be considered 
acceptable for meeting the requirements of this subpart. The submission 
must include the following information: The facility's EPA 
Identification Number, name, and address, and the amount of funds for 
closure or post-closure care or liability coverage assured by the 
mechanism. The Regional Administrator will notify the owner or operator 
of his determination regarding the mechanism's acceptability in lieu of 
financial mechanisms specified in this subpart. The Regional 
Administrator may require the owner or operator to submit additional 
information as is deemed necessary to make this determination. Pending 
this determination, the owner or operator will be deemed to be in 
compliance with the requirements of Sec. 264.143, Sec. 264.145, or 
Sec. 264.147, as applicable.
    (b) If a State-required mechanism is found acceptable as specified 
in paragraph (a) of this section except for the amount of funds 
available, the owner or operator may satisfy the requirements of this 
subpart by increasing the funds available through the State-required 
mechanism or using additional financial mechanisms as specified in this 
subpart. The amount of funds available through the State and Federal 
mechanisms must at least equal the amount required by this subpart.