[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: 40CFR264.150]

[Page 286-287]
 
                   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. 264.150  State assumption of responsibility.

    (a) If a State either assumes legal responsibility for an owner's or 
operator's compliance with the closure, post-closure care, or liability 
requirements of this part or assures that funds will

[[Page 287]]

be available from State sources to cover those requirements, the owner 
or operator will be in compliance with the requirements of Sec. 
264.143, Sec. 264.145, or Sec. 264.147 if the Regional Administrator 
determines that the State's assumption of responsibility is at least 
equivalent to the financial mechanisms specified in this subpart. The 
Regional Administrator will evaluate the equivalency of State guarantees 
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 a letter from the State describing the nature of the 
State's assumption of responsibility together with a letter from the 
owner or operator requesting that the State's assumption of 
responsibility be considered acceptable for meeting the requirements of 
this subpart. The letter from the State must include, or have attached 
to it, 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 that are guaranteed by the State. The 
Regional Administrator will notify the owner or operator of his 
determination regarding the acceptability of the State's guarantee 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's assumption of responsibility 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 use of both the State's assurance and 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.