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SRP Enforcement Remediation Funding Source & RCRA Financial Assurance Requirements
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Remediation Funding Source
and RCRA Financial Assurance Requirements
RFS & Surcharge
The establishment of a remediation funding source (RFS) is required upon the execution of an administrative consent order or remediation agreement, and upon the approval of a remedial action work plan for ISRA-subject facilities. Parties required to post a RFS must comply with the RFS requirements detailed at N.J.A.C. 7:26C-7 [pdf]. The amount of the RFS must reflect the cost of the remediation, including the cost to operate and maintain institutional and engineering controls. When applicable, parties must pay a surcharge on the amount of RFS posted.
RCRA FA
The New Jersey Department of Environmental Protection oversees the financial assurance requirements for New Jersey hazardous waste treatment storage facilities undergoing closure or post closure care pursuant to RCRA Subtitle C (40 C.F.R. Parts 265/265, Subpart H) on behalf of the US Environmental Protection Agency. Part 265/265, Subpart H, outlines the mechanisms an owner and operator may use to prove that funds will be available as well as the amounts that must be provided. Subpart H also establishes minimum amounts of liability coverage for accidents during the active life of the facility. Together, these requirements comprise the RCRA Provisions known as financial assurance. |
Important Links
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