House
File
560
-
Enrolled
House
File
560
AN
ACT
RELATING
TO
FINANCIAL
ASSURANCE
INSTRUMENTS
AND
SURETY
BONDS
REQUIRED
FOR
COLLECTING,
PROCESSING,
OR
TRANSPORTING
WASTE
TIRES,
AND
MAKING
PENALTIES
APPLICABLE.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
455D.11A,
subsection
5,
Code
2021,
is
amended
to
read
as
follows:
5.
Financial
assurance
shall
be
provided
in
the
amounts
as
follows:
a.
For
a
waste
tire
collection
or
processing
site,
the
financial
assurance
instrument
for
a
waste
tire
collection
House
File
560,
p.
2
site
shall
provide
coverage
in
an
amount
which
is
equivalent
to
thirty-five
cents
per
passenger
tire
equivalent
collected
by
the
site
prior
to
July
1,
1998.
The
financial
assurance
instrument
for
a
waste
tire
processing
site
shall
provide
coverage
in
an
amount
which
is
equivalent
to
thirty-five
cents
per
passenger
tire
equivalent
collected
for
processing
by
the
site
which
is
above
the
three-day
processing
supply
of
tires
for
the
site
as
determined
by
the
department.
b.
For
a
waste
tire
collection
or
processing
site,
the
The
financial
assurance
instrument
for
a
waste
tire
collection
site
shall
provide
coverage
in
an
amount
which
that
is
equivalent
to
eighty-five
two
dollars
and
fifty
cents
per
passenger
tire
equivalent
collected
by
the
site
on
or
after
July
1,
1998,
and
the
.
The
financial
assurance
instrument
for
a
waste
tire
processing
site
shall
provide
coverage
in
an
amount
which
that
is
equivalent
to
eighty-five
two
dollars
and
fifty
cents
per
passenger
tire
equivalent
collected
for
processing
by
the
site
which
that
is
above
the
three-day
processing
supply
of
tires
for
the
site
as
determined
by
the
department.
Sec.
2.
Section
455D.11I,
subsection
6,
Code
2021,
is
amended
to
read
as
follows:
6.
The
department
shall
require
that
a
waste
tire
hauler
have
on
file
with
the
department
before
the
issuance
or
renewal
of
a
registration
certificate,
a
surety
bond
executed
by
a
surety
company
authorized
to
do
business
in
this
state
in
the
sum
of
a
minimum
of
ten
one
hundred
fifty
thousand
dollars,
which
bond
shall
be
continuous
in
nature
until
canceled
by
the
surety.
A
surety
shall
provide
at
least
thirty
days’
notice
in
writing
to
the
waste
tire
hauler
and
to
the
department
indicating
the
surety’s
intent
to
cancel
the
bond
and
the
effective
date
of
the
cancellation.
The
surety
bond
shall
be
for
the
benefit
of
the
citizens
of
this
state
and
shall
be
conditioned
upon
the
waste
tire
hauler’s
willingness
to
comply
with
this
section
.
The
surety’s
liability
under
this
subsection
is
limited
to
the
amount
of
the
bond
or
the
amount
of
the
damages
or
moneys
due,
whichever
is
less.
However,
this
subsection
does
not
limit
the
amount
of
damages
recoverable
from
a
waste
tire
hauler
to
the
amount
of
the
surety
bond.
The
House
File
560,
p.
3
bond
shall
be
made
in
a
form
prescribed
by
the
commissioner
of
insurance
and
written
by
a
company
authorized
by
the
commissioner
of
insurance
to
do
business
in
this
state.
______________________________
PAT
GRASSLEY
Speaker
of
the
House
______________________________
JAKE
CHAPMAN
President
of
the
Senate
I
hereby
certify
that
this
bill
originated
in
the
House
and
is
known
as
House
File
560,
Eighty-ninth
General
Assembly.
______________________________
MEGHAN
NELSON
Chief
Clerk
of
the
House
Approved
_______________,
2021
______________________________
KIM
REYNOLDS
Governor