| (2) when using the financial test in accordance with §37.541
of this title (relating to Financial Test for Liability) the financial
assurance amounts required by of this section, for hazardous secondary
materials excluded under 40 CFR §261.4(a)(24) must be included
as an additional environmental obligation.
(j) An owner or operator of a reclamation facility,
an intermediate facility, or a group of facilities required by 40
CFR §261.4(a)(24) to provide financial assurance demonstrating
liability coverage shall comply with the requirements of Chapter 37,
Subchapter G of this title (relating to Wording of the Mechanisms
for Liability) for the mechanisms required by subsection (i) of this
section except The Chief Financial Officer's letter associated with
the financial test for liability specified in §37.651 of this
title (relating to Financial Test for Liability), must include the
financial assurance amounts required by this section, for hazardous
secondary materials excluded under 40 CFR §261.4(a)(24) as an
additional environmental obligation in paragraph 5(f) of the Chief
Financial Officer's Letter in Figure: 30 TAC §37.351.
(k) If the state of Texas either assumes legal responsibility
for an owner's or operator's compliance with the closure, post closure,
corrective action, or liability requirements of this chapter, or assures
that funds will be available from state sources to cover those requirements,
the owner or operator will be in compliance with the requirements
of this chapter if the executive director determines that the state's
assumption of responsibility is at least equivalent to the financial
mechanisms specified in this chapter. The executive director will
evaluate the equivalency of state guarantees principally in terms
of certainty of the availability of funds for the required closure,
post closure, or corrective action activities, or liability coverage;
and the amount of funds that will be made available. The executive
director may also consider other factors as the executive director
deems appropriate. The owner or operator must submit to the executive
director a letter from the State of Texas describing the nature of
the state's assumption of responsibility together with a letter from
the owner or operator requesting that the state's assumption of responsibility
be considered acceptable for meeting the requirements of this chapter.
The letter from the state must include the following information:
the facility's permit number and/or solid waste registration number,
name, physical and mailing addresses, and the amount of funds for
closure, post closure, or corrective action or liability coverage
that are guaranteed by the state. The executive director will notify
the owner or operator of the determination regarding the acceptability
of the state's guarantee in lieu of financial mechanisms specified
in this chapter. The executive director may require the owner or operator
to submit additional information as is deemed necessary to make this
determination. Upon approval by the executive director, the owner
or operator will be deemed to be in compliance with the requirements
of this chapter. If the State of Texas' assumption of responsibility
is found acceptable as specified in this section except for the amount
of funds available, the owner or operator may satisfy the requirements
of this chapter by use of both the state's assurance and additional
financial mechanisms as specified in this chapter. The amount of funds
available through the state and the owner or operator's mechanisms
shall equal at least the required amount.
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