Section Env-Or 606.20 - Financial Assurance(a) If the remedial action plan proposes active remediation or active containment, or both, that will be ongoing for 10 or more years, the responsible party shall establish, implement, and maintain an approved financial assurance plan.(b) The responsible party shall submit to the department for approval a financial assurance plan within 90 days following approval of the remedial action plan that includes: (1) A cost estimate prepared in accordance with (c), below;(2) Provisions for guaranteeing the cost of long-term remediation based on one or any combination of the options specified in Env-Or 606.21; and(3) For the options specified in Env-Or 606.21(a), the identity of the financial institution providing the guarantee.(c) The remediation cost estimate shall: (1) Be itemized and documented to show the unit cost and quantity of each item, service, and activity required for operation and maintenance of the active remediation or active containment system, or both;(2) Be based on representative current market rates for having a third party perform all required remediation activities;(3) Be based on the time required to meet the criteria for issuance of a certificate of completion pursuant to Env-Or 609.01 or 30 years, whichever is less;(4) Include a line item for contingencies equaling no less than 10% of the total itemized costs; and(5) Be dated, signed, and sealed by the engineer of record.(d) The responsible party shall demonstrate that it has obtained financial assurance within 30 days of receiving the department's approval of the financial assurance plan.(e) The responsible party shall submit an update of the remediation cost estimate to the department for approval annually on a date stipulated in the groundwater management permit.(f) If the updated remediation cost estimate required pursuant to (e), above, is greater than 10% more than the value of the financial assurance mechanism currently in effect, the responsible party shall obtain updated or replacement financial assurance in an amount consistent with the updated remediation cost estimate within 30 days of the department's approval of the cost estimate.(g) The responsible party shall submit a revised financial assurance plan for department approval within 30 days of learning that any portion of its financial assurance is being cancelled or not renewed by the issuer.(h) The responsible party shall demonstrate that it has obtained replacement financial assurance promptly upon receiving the department's approval of a revised financial assurance plan, but no later than 30 days before the cancellation or expiration date of the existing financial assurance.N.H. Admin. Code § Env-Or 606.20
(See Revision Note at chapter heading for Env-Or 600) #8812, eff 2-1-07
Amended by Volume XXXV Number 23, Filed June 11, 2015 , Proposed by #10831, Effective 6/1/2015, Expires6/1/2025.