| (a) A financial assurance mechanism or combination of mechanisms in accordance with Chapter 37 of this title (relating to Financial Assurance) is required for all entities currently licensed or proposed to be licensed, except that licenses and applicants under Subchapter M are subject to the financial assurance requirements of §336.1235 of this title (relating to Financial Assurance for Storage and Processing Facilities). (b) Applicants for a new license to decommission an inactive disposal site and applicants for a license under Subchapters K of this chapter (relating to Commercial Disposal of Naturally Occurring Radioactive Material Waste from Public Water Systems) shall submit with the application a signed statement regarding how the applicant will provide financial assurance for decommissioning using one or more of the mechanisms specified in Chapter 37 of this title. The amount of financial assurance shall be based upon the detailed cost estimate included in the decommissioning plan submitted with the application. (c) Holders of licenses for inactive disposal sites issued before January 1, 1998 shall submit a funding plan before January 1, 1998. Each funding plan must contain: (1) a cost estimate for decommissioning; (A) Each holder of a license authorizing the disposal of unsealed radioactive material with a half-life greater than 120 days and in quantities exceeding 105 times the applicable quantities set forth in §336.627 of this title (relating to Radionuclide Quantities for Use in Determining Financial Assurance for Decommissioning) or when a combination of isotopes is involved if R divided by 105 is greater than 1 (unity rule), where R is defined as the sum of the ratios of the quantity of each isotope to the applicable value in §336.627 of this title, shall submit a certification of financial assurance for decommissioning in an amount at least equal to $750,000, in accordance with the criteria set forth in this subchapter and Chapter 37 of this title; or (B) Each holder of a license authorizing disposal of radioactive material with a half-life greater than 120 days shall provide certification of financial assurance for decommissioning based on the quantity of material as follows: (i) $750,000--greater than 104 but less than or equal to 105 times the applicable quantities in §336.627 of this title, in unsealed form. (For a combination of isotopes, if R, as defined in subparagraph (A) of this paragraph, divided by 104 is greater than 1 but R divided by 105 is less than or equal to 1.); or (ii) $150,000--greater than 103 but less than or equal to 104 times the applicable quantities in §336.627 of this title in unsealed form. (For a combination of isotopes, if R, as defined in subparagraph (A) of this paragraph, divided by 103 is greater than 1 but R divided by 104 is less than or equal to 1.). (C) Notwithstanding the requirements of subparagraphs (A) and (B) of this paragraph: (i) each holder for a license authorizing the disposal of more than 100 millicuries of source material in a readily dispersible form shall submit certification that financial assurance has been provided in the amount of $750,000; (ii) each holder for a license authorizing the disposal of quantities of source material greater than ten millicuries but less than or equal to 100 millicuries in a readily dispersible form shall submit certification that financial assurance has been provided in the amount of $150,000; (2) a description of the financial assurance mechanism of assuring funds for decommissioning as specified in Chapter 37 of this title, including means for adjusting cost estimates and associated funding levels annually over the life of the facility; and (3) a certification by the licensee that a signed original of the financial assurance mechanism for decommissioning, in accordance with criteria set forth in this section and Chapter 37 of this title, has been submitted to and approved by the executive director in the amount specified in paragraph (1) of this subsection. (d) Holders of existing licenses for inactive disposal sites shall, as part of the license renewal process, submit a signed statement adjusting the amount of financial assurance based upon the detailed cost estimate included in the decommissioning plan submitted with the renewal application. The adjusted amount of financial assurance for decommissioning shall be effective upon license renewal. (e) Holders of licenses for active disposal sites shall submit a signed statement adjusting the amount of financial assurance based upon the detailed cost estimate included in the decommissioning plan submitted no later than the date specified in §336.625(e) of this title (relating to Expiration and Termination of Licenses). |
