Section 93.745. Record keeping.

 

(1)  

(a) Owners or operators shall maintain evidence of all financial assurance mechanisms used to demonstrate financial responsibility under this subchapter until released from the requirements of this subchapter under s. ATCP 93.750 .

(b) An owner or operator shall maintain such evidence at the storage tank site or the owner's or operator's place of business.

(c) Records maintained off-site shall be made available to the department or authorized agent upon request.

(2)  An owner or operator shall maintain the following types of evidence of financial responsibility:

(a) An owner or operator using an assurance mechanism specified in ss. ATCP 93.710 to 93.720 , or in ss. ATCP 93.727 to 93.735 , or in s. ATCP 93.723 shall maintain a copy of the instrument.

(b) An owner or operator using a financial test or guarantee, or a local government financial test or a local government guarantee supported by the local government financial test shall maintain a copy of the chief financial officer's letter based on year-end financial statements for the most recent completed financial reporting year. Such evidence shall be on file no later than 120 days after the close of the financial reporting year.

(c) An owner or operator using a guarantee, surety bond, or letter of credit shall maintain a copy of the signed standby trust fund agreement and copies of any amendments to the agreement.

(d) A local government owner or operator using a local government guarantee under s. ATCP 93.733 (4) shall maintain a copy of the signed standby trust agreement and copies of any amendments to the agreement.

(e) A local government owner or operator using the local government bond rating test under s. ATCP 93.727 shall maintain a copy of its bond rating published within the last 12 months by Moody's or Standard & Poor's.

(f) A local government owner or operator using the local government guarantee under s. ATCP 93.733 where the guarantor's demonstration of financial responsibility relies on the bond rating test under s. ATCP 93.727 shall maintain a copy of the guarantor's bond rating published within the last 12 months by Moody's or Standard & Poor's.

(g) An owner or operator using an insurance policy or risk retention group coverage shall maintain a copy of the signed insurance policy or risk retention group coverage policy, with the endorsement or certificate of insurance and any amendments to the agreements.

(h) An owner or operator using a local government fund under s. ATCP 93.735 shall maintain all of the following documents:

1. A copy of the state statute or provision or local government ordinance or order that dedicates the fund.

2.

a. Year-end financial statements for the most recent completed financial reporting year showing the amount in the fund.

b. If the fund is established using incremental funding backed by bonding authority, financial statements showing the previous year's balance, the amount of funding during the year and the closing balance in the fund.

3. If the fund is established using incremental funding backed by bonding authority, documentation showing the required bonding authority, including either the results of a voter referendum or attestation by the Wisconsin attorney general .

(i) A local government owner or operator using the local government guarantee supported by the local government fund shall maintain a copy of the guarantor's year-end financial statements for the most recent completed financial reporting year showing the amount of the fund.

(j)

1. An owner or operator using an assurance mechanism specified in ss. ATCP 93.710 to 93.735 shall maintain an updated copy of an affidavit of financial responsibility worded exactly as specified in 40 CFR 280.111 (b)(11)(i), except as specified in subds. 2. and 3.

2. The instructions in brackets in the affidavit shall be replaced by the relevant information and the brackets deleted.

3. If financial responsibility for aboveground tanks within the scope of this subchapter is demonstrated using this method, all of the following changes shall be made:

a. Any reference in the affidavit to underground tanks shall be amended to refer to aboveground tanks.

b. Any certification that wording is identical to the wording required in 40 CFR 280.111 (b)(11)(i) shall be deleted.

4. The owner or operator shall update the affidavit referenced in subd. 1. annually and whenever the financial assurance mechanisms used to demonstrate financial responsibility change or when requested by the department.

CR 07-029 : cr. Register November 2008 No. 635 , eff. 2-1-09; correction in (1) (a), (2) (a), (d), (e), (f), (h) (intro.), (j) 1. made under s. 13.92 (4) (b) 7. , Stats., Register December 2011 No. 672 ; corrections in (1) (a), (2) (a), (d) to (f), (h) (intro.), (j) 1. made under s. 13.92 (4) (b) 7. , Stats., Register October 2013 No 694.

Note

A copy of the affidavit of financial responsibility required in 40 CFR 280.111 (b)(11)(i) is available from the department's website at https://datcp.wi.gov/Pages/Programs_Services/PetroleumHazStorageTanks.aspx . Microsoft Windows NT 6.1.7601 Service Pack 1