(a) Closure cost estimate.

1. (1)

   1. (A) As provided in 40 C.F.R. § 258.71, the owner or operator of all permitted landfill facilities must have and maintain a detailed written estimate, in current dollars, of the cost of hiring a third party to close the largest area of all permitted facilities ever requiring a final cover as required under 8 CAR § 60-1301(c) at any time during the active life in accordance with the closure plan.
   2. (B) The owner or operator shall provide the initial and updated estimates to the Director of the Division of Environmental Quality and shall place the estimates in the operating record.

2. (2)

   1. (A) The cost estimate must equal the cost of closing the largest area of all permitted facilities ever requiring a final cover at any time during the active life when the extent and manner of its operation would make closure the most expensive, as indicated by its closure plan (see 8 CAR § 60-1301).
   2. (B) During the active life of the permitted facility, the owner or operator must annually adjust the closure cost estimate for inflation.
   3. (C) The owner or operator must increase the closure cost estimate and the amount of financial assurance provided under subsection (b) of this section if changes to the closure plan or permitted facility conditions increase the maximum cost of closure at any time during the remaining active life.
   4. (D)

(i) With Division of Environmental Quality approval, the owner or operator may reduce the closure cost estimate and the amount of financial assurance provided under subsection (b) of this section if the cost estimate exceeds the maximum cost of closure at any time during the remaining life of the permitted facility.

1. (ii) The owner or operator must provide the justification to the director for the reduction of the closure cost estimate and place the justification in the operating record.

(b) Financial assurance for closure.

1. (1) The owner or operator of each permitted facility must establish and at all times maintain financial assurance for closure of the permitted facility in compliance with 8 CAR § 60-1405.
2. (2) The owner or operator must provide continuous coverage for closure until released from financial assurance requirements by demonstrating compliance with 8 CAR § 60-1301(l) and (m).