An evaluation of the RCRA Subtitle C financial test mechanism

Conference · Sat Dec 31 04:00:00 EST 1994

OSTI ID:113239

Finney, J R ^[1]; Clark, E M; Platt, D; Johnson, M F ^[2]

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1. Environmental Protection Agency, Atlanta, GA (United States). Region 4
2. PRC Environmental Management, Inc., McLean, VA (United States)

This paper evaluates the financial test mechanism for providing financial assurance for hazardous waste treatment, storage, and disposal facilities (TSDF), as required under the Resource Conservation and Recovery Act (RCRA). RCRA Subtitle C regulations require that owners and operators of TSDFs demonstrate financial assurance for closure and post-closure care and third-party liability coverage. Such requirements help to ensure that funds are available to pay to properly close TSDFS, to render post-closure care at TSDFS, and to compensate third parties for bodily injuries and property damage caused by sudden or nonsudden releases of pollution related to the TSDFs operations. The paper provides a detailed analysis of the criteria established under RCRA to use the financial test mechanism to demonstrate financial assurance. From a regulator`s point of view, the analysis explores the potential limitations of using the financial test mechanism. The paper also provides recommendations that EPA and state agencies might consider implementing to improve the current regulations.

• OSTI ID: 113239
• Report Number(s): CONF-940499--; ISBN 1-56590-014-6
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
COMPLIANCE
FINANCING
HAZARDOUS MATERIALS
LIABILITIES
RESOURCE RECOVERY ACTS
WASTE MANAGEMENT