§ 22226. CIWMB--Minimum Fund Balance Calculation for Known Corrective Action. (T14:§ 17258.74)
27 CA ADC § 22226Barclays Official California Code of Regulations
Barclays California Code of Regulations
Title 27. Environmental Protection
Division 2. Solid Waste (Refs & Annos)
Subdivision 1. Consolidated Regulations for Treatment, Storage, Processing or Disposal of Solid Waste
Chapter 6. Financial Assurances at Solid Waste Facilities and at Waste Management Units for Solid Waste
Subchapter 3. Allowable Mechanisms (Refs & Annos)
Article 1. Calrecycle--General Requirements for Mechanisms
27 CCR § 22226
§ 22226. CIWMB--Minimum Fund Balance Calculation for Known Corrective Action. (T14:§ 17258.74)
(2) For a trust fund or enterprise fund used to demonstrate financial assurance for corrective action, the first payment into the fund must be at least equal to one-half of the current cost estimate for corrective action, divided by the number of years in the corrective action pay-in period as defined in ¶(a)(1). The amount of subsequent payments must be determined by the following formula:
Next Payment: | RB-CV |
Y |
where RB is the most recent estimate of the required fund balance for corrective action (i.e., the total costs that will be incurred during the second half of the corrective action period), CV is the current value of the fund, and Y is the number of years remaining in the pay-in period.
(4) If the operator establishes a fund after having used one or more alternate mechanisms specified in this Subchapter, the initial payment into the fund must be at least the amount that the fund would contain if the fund were established initially and annual payments made according to the specifications of this section.
Credits
Note: Authority cited: Sections 40502 and 40508, Public Resources Code. Reference: Sections 40508 and 43103, Public Resources Code; Section 258.74, Title 40, Code of Federal Regulations.
History
1. New section filed 6-18-97; operative 7-18-97 (Register 97, No. 25).
This database is current through 5/3/24 Register 2024, No. 18.
Cal. Admin. Code tit. 27, § 22226, 27 CA ADC § 22226
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