| (a) If the State of Texas either assumes legal responsibility
for an owner's or operator's compliance with plugging and abandonment, post
closure, or liability requirements of this chapter or assures that funds will
be available from state sources to cover the 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 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 plugging and abandonment,
post closure, or liability coverage; and the amount of funds that will be
made available. The executive director may also consider other factors. 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, or have attached
to it, the following information: the facility's permit number, name, physical
and mailing addresses, and the amount of funds for plugging and abandonment,
post closure, 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 the 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.
(b) If the State of Texas' assumption of responsibility is
found acceptable as specified in subsection (a) of 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 owner or operator's mechanisms must at least equal the required
amount.
|
