15A NCAC 13B .1804 (b) FINANCIAL ASSURANCE COST ESTIMATE REQUIREMENTS FOR
CORRECTIVE ACTION PROGRAMS
Requirements for adjustments to the corrective action cost estimate and the amount of financial assurance:
(1) During the active life of the facility, the owner and operator shall annually adjust the cost
estimates for the corrective action program and potential assessment and corrective action and the
amount of financial assurance for inflation.
(2) The owner and operator shall increase the cost estimate for the corrective action program and the
amount of financial assurance and submit the revised cost estimate to the Division if changes to
the corrective action program or facility conditions increase the maximum cost of corrective action
program at any time during the remaining active life of the facility.
(3) The owner and operator may request to reduce the cost estimate for the corrective action program
and the amount of financial assurance if the cost estimate exceeds the maximum cost of the
corrective action program at any time during the active life of the facility by submitting a revised
cost estimate for the corrective action program and a written justification for the reduction to the
Division for approval no less than 180 calendar days prior to the anniversary of the date the
financial assurance mechanism was established.
No reduction of the corrective action program
cost estimate or the amount of financial assurance shall be allowed without written approval from
the Division.
The reduction justification and the Division approval shall be placed in the facility's
operating record. In making the determination on approval of the request, the Division shall
consider the following factors for the facility:
(A) completion of or changes to corrective action program activities or other circumstances;(B) changes to third party corrective action program costs;
(C) compliance status of the owner and operator; and
(D) environmental monitoring data.