(a) The applicant shall provide assurance 60 days prior to the initial receipt of waste that sufficient funds will be available to carry out disposal site closure and stabilization, including:
  (1) decontamination or dismantlement of land disposal facility structures;
  (2) disposal of any radioactive material remaining at the site at closure; and
  (3) closure and stabilization of the disposal site so that, following transfer of the disposal site to the custodial agency, the need for ongoing active maintenance is eliminated to the extent practicable and only minor custodial care, surveillance, and monitoring are required.
(b) The assurance shall be based on cost estimates approved by the executive director which reflect the commission-approved plan for disposal site closure and stabilization. The applicant's cost estimates shall take into account total costs that would be incurred if an independent contractor were hired to perform the closure and stabilization work.
(c) The licensee's financial assurance mechanism and cost estimates shall be reviewed annually by the commission at an open meeting to assure that sufficient funds are available for completion of the closure plan, assuming that the work has to be performed by an independent contractor.
(d) The amount of financial assurance should change in accordance with the predicted cost of future closure and stabilization. Factors affecting cost estimates for closure and stabilization include inflation, increases in the amount of disturbed land, changes in engineering plans, closure and stabilization that have already been accomplished, and any other conditions affecting costs. This shall yield a closure amount that is at least sufficient at all times to cover the costs of closure of the disposal units that are expected to be used before the next annual review.
(e) Sixty days prior to the initial receipt of waste, the licensee shall provide financial assurance for bodily injury and property damage to third parties caused by sudden and non-sudden accidental occurrences arising from operations of the compact waste disposal facility and/or federal facility waste disposal facility in a manner that meets the requirements of Chapter 37 of this title (relating to Financial Assurance).
(f) Financial assurance mechanisms submitted to comply with this section shall meet the requirements specified in Chapter 37, Subchapter T of this title (relating to Financial Assurance for Near-Surface Land Disposal of Radioactive Waste).

Source Note: The provisions of this §336.736 adopted to be effective June 5, 1997, 22 TexReg 4588; amended to be effective March 21, 2000, 25 TexReg 2397; amended to be effective January 8, 2004, 29 TexReg 150