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Waste 2 Resources Program

Financial Assurance

In 1986, the legislature determined that it was necessary for specific solid waste facilities to set aside assets for closure and for post-closure care. Rules to implement this section of the statute were first adopted in 1988. Since then rules addressing solid waste facilities have included requirements for financial assurance.

Chapter 173-351 WAC, Criteria for Municipal Solid Waste Landfills applies to municipal solid waste landfills. The major components of financial assurance are; an estimate of cost of closure and a post-closure period lasting as long as necessary for the landfill to become functionally stable using a maximum cost estimate (worst case scenario), the type of financial assurance instrument used including designation of the local health department as the beneficiary of the instrument, and a process to designate the closure and post-closure are complete. (Checklist for Financial Assurance Review chapter 173-351 WAC can assist in the review of the requirements for financial assurance under this rule.)

Chapter 173-350 WAC, Solid Waste Handling Standards, adopted in January of 2003, requires financial assurance for waste tire storage facilities, fixed moderate risk waste facilities that store more than nine thousand gallons of MRW on-site, excluding used oil, and limited purpose landfills. The major components of financial assurance are; an estimate of cost of closure and a 20 year post-closure period, or a time period determined by the jurisdictional health department, using a maximum cost estimate (worst case scenario), the type of financial assurance instrument used including designation of the local health department as the beneficiary of the instrument, and a process to designate the closure and post-closure are complete. (Checklist for Financial Assurance Review Chapter 173-350 WAC can assist in the review of the requirements for financial assurance under this rule.)

Chapter 173-306 WAC, Special Incinerator Ash Management Standards applies to special incinerator ash monofills. The major components of financial assurance are; an estimate of cost of closure and a 20 year post-closure period using a reasonable cost estimate, the type of financial assurance instrument used including designation of Ecology as the beneficiary of the instrument, and a process to designate the closure and post-closure was complete. (Checklist for Financial Assurance Review chapter 173-306 WAC can assist in the review of the requirements for financial assurance under this rule.)

Currently, chapter 173-304 WAC, Minimum Functional Standards for Solid Waste Handling applies only to municipal solid waste landfills, woodwaste landfills, and surface impoundments closed with waste remaining in place, that closed under chapter 173-304 WAC and are now in a period of post-closure care. The major components of financial assurance, which applies to these closed facilities, are: an estimate of the cost of conducting post-closure care for at least 20 years, an approved financial assurance instrument designating the local health department as the beneficiary, and a process to designate the post-closure period was complete. (Checklist for Financial Assurance Review Chapter 173-304 WAC can assist in the requirements for financial assurance under this rule.)