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Federal Register Notice: Proposed Rule on Standards for Financial Assurance for Corrective Action

This rule proposes implement the statutory requirement in the Solid Waste Amendments (HSWA) for demonstrating financial assurance for the costs of completing corrective actions at facilities seeking a permit. The rule would require owners or operators seeking a Resource Conservation and Recovery Act (RCRA) permit to demonstrate financial assurance for completion of any required corrective action for a release to any medium from any solid waste management unit. Acceptable mechanisms include a trust fund, surety bond guaranteeing performance, letter of credit, financial test and corporate guarantee. EPA also solicited comments on alternative regulatory schemes for addressing the issue of financial assurance for corrective action.

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