SECTION 252:653-11-6. Cost estimates for corrective action

(a)   Corrective action cost estimate required. When corrective action is required at an ASR facility, cost estimates for corrective action shall be submitted to DEQ for approval. The cost estimates shall be a detailed written estimate, in current dollars, of the cost of hiring a third party to perform the corrective action.

(b)   Amount. The corrective action cost estimate shall be set by DEQ and account for the total costs of corrective action activities as described in the approved corrective action plan for the entire corrective action period.

(c)   Increases required. The corrective action cost estimate and the amount of financial assurance provided must be increased at any time changes to the corrective action program or facility conditions increase the estimated cost of corrective action.

(d)   Reduction allowed. Proposals for reduction of corrective action cost estimates and the amount of financial assurance required may be approved by DEQ.

(1)   Estimate exceeds cost. To qualify for a reduction, the cost estimate must be demonstrated to exceed the maximum cost of corrective action at any time during the remaining life of the facility.

(2)   Adequate assurance remains. The amount of security remaining after the reduction must adequately cover the estimated corrective action costs yet to be realized.

(3)   DEQ approval required. Financial assurance shall not be reduced until DEQ approval has been granted.

[Source: Added at 35 Ok Reg 1333, eff 9-15-18]