The Financial Assurance Program was formed to help ensure that permitted solid waste facilities have sufficient funding to close when business operations are terminated and to cover post-closure monitoring and maintenance.
Financial assurance is required of all permitted solid waste facilities except:
- Permit-exempt facilities.
- Permit-by-notification facilities.
- Facilities for which the closure cost estimate is $3,000 or less.
- Emergency permit facilities.
- Limited private non-landfill facilities.
The amount of financial assurance is based on:
- Representative current market rates.
- Having a third party perform all required closure and post-closure activities.
- The point in the facility's active life when closure would be most expensive.
- Facility operations being in compliance with permit conditions and applicable laws and rules.
Financial Assurance Mechanisms