(a) Closure cost estimates.
  (1) Except as otherwise approved by the executive director, an owner or operator of a recycling facility that stores combustible material outdoors, or that poses a significant risk to public health and safety as determined by the executive director, shall provide a written cost estimate, in current dollars, showing the cost of hiring a third party to close the process facility by disposition of all processed and unprocessed materials in accordance with all applicable regulations.
  (2) The estimate for storage and processing units must:
    (A) equal the costs of closure of the facility, including disposition of the maximum inventories of all waste and processed and unprocessed combustible materials stored outdoors on site during the life of the facility, in accordance with all applicable regulations;
    (B) be based on the costs of hiring a third party that is not affiliated (as defined in §328.2 of this title (relating to Definitions) with the owner or operator; and
    (C) be based on a per cubic yard and/or short ton measure for collection and disposition costs.
  (3) An increase in the closure cost estimate and the amount of financial assurance provided under subsection (b) of this section must be made if changes to the facility conditions increase the maximum cost of closure at any time during the active life of the facility.
  (4) A reduction in the closure cost estimate and the amount of financial assurance provided under subsection (b) of this section may be approved if the cost estimate exceeds the maximum cost of closure at any time during the remaining life of the facility and the owner or operator has provided written notice to the executive director of the detailed justification for the reduction of the closure cost estimate and the amount of financial assurance. For a permitted or registered facility, a reduction in the cost estimate and the financial assurance must be considered a modification and must be handled as such.
(b) Financial assurance.
  (1) An owner or operator of a recycling facility that stores combustible material outdoors, or that poses a significant risk to public health and safety as determined by the executive director, shall establish and maintain financial assurance for closure of the facility in accordance with Chapter 37, Subchapter J of this title (relating to Financial Assurance for Recycling Facilities).
  (2) Continuous financial assurance coverage for closure must be provided until all requirements of the final closure plan have been completed and the site is determined to be closed in writing by the executive director.

Source Note: The provisions of this §330.505 adopted to be effective March 27, 2006, 31 TexReg 2502