Section 520.10. Adjustment of financial responsibility.

  The owner of a facility identified in Table 1 as being required to establish proof of financial responsibility shall submit to the department proof of the adjustment of the amounts of the proof mechanisms for closure, long-term care and remediation. Proof mechanisms shall be adjusted as follows:

(1)  All proof mechanisms shall be adjusted annually to account for increases in cost estimates based on adjustments for inflation. The annual proof mechanism adjustments shall be submitted to the department by December 31.

(2)  Adjusted proof mechanisms shall be within 60 days after a new cost estimate submitted in accordance with s. NR 520.07 is approved by the department. The adjusted proof mechanisms shall be in an amount adequate to cover the most recently approved cost estimate.

(3)  For companies using the net worth test under s. NR 520.06 (6) , the updated net worth test information as required under s. 289.41 (4) , Stats., shall be submitted annually to the department within 90 days after the close of the company's fiscal year.

(4)  For facilities using trust accounts, escrow accounts or deposits with the department to demonstrate proof of financial responsibility, revised proof of financial responsibility calculations shall be performed in accordance with s. NR 520.08 and submitted to the department by March 1 of the year succeeding the calendar year in which any or all of the following activities occur:

(a) Waste acceptance rates have increased enough to lower the projected remaining operational life of the landfill by one year or more.

(b) The weighted average annual rate of return of any trust or escrow account has fallen by 1% or more.

History: Cr. Register, January, 1988, No. 385 , eff. 2-6-88; am., Register, June, 1996, No. 486 , eff. 7-1-96; CR 05-020 : r. and recr. Register January 2006 No. 601 , eff. 2-1-06.