Section 665.0144. Cost estimate for long-term care.

 

(1)  The owner or operator of a hazardous waste disposal unit shall have a detailed written estimate, in current dollars, of the annual cost of long-term care monitoring and maintenance of the facility according to the applicable long-term care rules in ss. NR 665.0117 to 665.0120 , 665.0228 , 665.0258 and 665.0310 .

(a) The long-term care cost estimate shall be based on the costs to the owner or operator of hiring a third party to conduct long-term care activities. A third party is a party who is neither a parent corporation nor subsidiary of the owner or operator.

(b) The long-term care cost estimate is calculated by multiplying the annual long-term care cost estimate by the number of years of long-term care required under s. NR 665.0117 .

(2)  During the active life of the facility, the owner or operator shall adjust the long-term care cost estimate for inflation within 60 days prior to the anniversary date of the establishment of the financial instrument or instruments used to comply with s. NR 665.0145 . For owners or operators of disposal facilities using the net worth test, the long-term care cost estimate shall be updated for inflation as specified in s. 289.41 (5) (d) , Stats. The adjustment may be made by recalculating the long-term care cost estimate in current dollars or by using an inflation factor derived from the most recent implicit price deflator for gross domestic product published by the U.S. department of commerce in its Survey of Current Business as specified in s. NR 665.0145 (2) (a) and (b) . The inflation factor is the result of dividing the latest published annual deflator by the deflator for the previous year.

(a) The first adjustment is made by multiplying the long-term care cost estimate by the inflation factor. The result is the adjusted long-term care cost estimate.

(b) Subsequent adjustments are made by multiplying the latest adjusted long-term care cost estimate by the latest inflation factor.

(3)  During the active life of the facility, the owner or operator shall revise the long-term care cost estimate no later than 30 days after a revision to the long-term care plan which increases the cost of long-term care. If the owner or operator has an approved long-term care plan, the long-term care cost estimate shall be revised no later than 30 days after the department has approved the request to modify the plan, if the change in the long-term care plan increases the cost of long-term care. The revised long-term care cost estimate shall be adjusted for inflation as specified in sub. (2) .

(4)  The owner or operator shall keep the following at the facility during the operating life of the facility: the latest long-term care cost estimate prepared in accordance with subs. (1) and (3) and, when this estimate has been adjusted in accordance with sub. (2) , the latest adjusted long-term care cost estimate.

History: CR 05-032 : cr. Register July 2006 No. 607 , eff. 8-1-06.