House Study Bill 316 



                                       HOUSE FILE       
                                       BY  (PROPOSED COMMITTEE ON
                                            WAYS AND MEANS BILL BY
                                            CHAIRPERSON SHOMSHOR)


    Passed House, Date               Passed Senate,  Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to plans and financial assurance requirements for
  2    certain sanitary landfill projects.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  4 TLSB 2615HC 82
  5 tm/gg/14

PAG LIN



  1  1    Section 1.  Section 455B.306, Code 2007, is amended by
  1  2 adding the following new subsection:
  1  3    NEW SUBSECTION.  12.  This section shall not apply to a
  1  4 sanitary landfill project owned by an electric generating
  1  5 facility and used exclusively for the disposal of coal
  1  6 combustion residue.  Notwithstanding section 455B.301,
  1  7 subsection 8, a utility under this subsection may demonstrate
  1  8 financial assurance through the use of a secured trust fund, a
  1  9 cash or surety bond, a corporate financial test as provided by
  1 10 the department, the obtaining of an irrevocable letter of
  1 11 credit, or an alternative method as provided by the
  1 12 department.  The financial assurance instrument submitted must
  1 13 ensure the facility's financial capability to provide
  1 14 reasonable and necessary response during the lifetime of the
  1 15 project and for a specified period of time following closure
  1 16 as required by rules adopted by the commission.
  1 17                           EXPLANATION
  1 18    This bill relates to plans and financial assurance
  1 19 requirements for certain sanitary landfill projects.
  1 20    The bill provides that certain planning requirements for
  1 21 sanitary landfills do not apply to a sanitary landfill project
  1 22 owned by an electric generating facility and used exclusively
  1 23 for the disposal of coal combustion residue.  The bill
  1 24 provides that a utility owning such a sanitary landfill
  1 25 project may demonstrate financial assurance through the use of
  1 26 a secured trust fund, a cash or surety bond, a corporate
  1 27 financial test as provided by the department of natural
  1 28 resources, the obtaining of an irrevocable letter of credit,
  1 29 or an alternative method as provided by the department.  The
  1 30 bill provides that a financial assurance instrument must
  1 31 ensure the facility's financial capability to provide
  1 32 reasonable and necessary response during the lifetime of the
  1 33 project and for a specified period of time following the
  1 34 closure as required by rule.
  1 35 LSB 2615HC 82
  2  1 tm:nh/gg/14