NR 520.08(2)(a)(a) For escrow, trust or department accounts, proof of financial responsibility for long-term care shall be provided in accordance with the following:

NR 520.08(2)(a)1.1. Annual payments shall be made into the account at the beginning of each year of site life. All estimated annual expenditures during the long-term care proof of financial responsibility period shall be assumed to occur at the end of each year of the proof period.

NR 520.08(2)(a)2.2. Annual payments shall be made in equal dollar amounts or in dollar amounts that increase each year by no more than the projected rate of inflation. However, payments in excess of these minimum amounts may be made in any year, thereby reducing the amounts of subsequent annual payments for the remainder of the site life.

NR 520.08(2)(a)3.3. The amount of the annual payments shall be calculated and made such that, at the end of the projected facility life, the minimum dollar value of the account is equal to the sum of all estimated long-term care expenditures for the entire long-term care proof of financial responsibility period where the expenditure for each year has first been expressed in future dollars and then brought to present value using a discount rate equal to the projected rate of inflation plus 2%.

NR 520.08(2)(a)4.4. In estimating future earnings on these accounts, the weighted average rate of return of the investments held in the account may be used for a period of time not to exceed the weighted average maturity of the investments held in the account rounded to the nearest whole year. Earnings for years beyond the weighted average maturity of the investments in the account shall be calculated based on a projected rate of return equal to the projected rate of inflation plus 2%.

NR 520.08(2)(a)5.5. If an annual payment is missed or made late, the subsequent annual payment shall be increased so that the end of year balances originally calculated based on beginning of year payments are maintained.

NR 520.08(2)(b)(b) For bonds, letters of credit or insurance, proof of financial responsibility for long-term care shall be equal to the sum of the costs in current dollars of performing each of the years of long-term care for the required long-term care proof of financial responsibility period.

NR 520.08(3)(a)(a) For escrow, trust or department accounts, proof of financial responsibility for remedial actions shall be provided in accordance with the following:

NR 520.08(3)(a)1.1. Annual payments shall be made into the account at the beginning of each year of the first half of the remedial action period. All estimated annual expenditures during the remedial action proof of financial responsibility period shall be assumed to occur at the end of each year of the proof period.

NR 520.08(3)(a)2.2. Annual payments shall be made in equal dollar amounts or in dollar amounts that increase each year by no more than the projected rate of inflation. However, payments in excess of these minimum amounts may be made in any year, thereby reducing the amounts of subsequent payments.

NR 520.08(3)(a)3.3. The amount of these payments shall be calculated and made such that, half way through the period of time the remedial action is estimated to take to complete, the minimum dollar value of the account is equal to the sum of each annual cost which is estimated to occur in the second half of the remedial action period where the expenditure for each year has first been expressed in future dollars and then brought to present value using a discount rate equal to the projected rate of inflation plus 2%.

NR 520.08(3)(b)(b) For bonds or letters of credit, remedial action proof of financial responsibility shall be provided in an amount equal to the sum of the remedial action costs estimated to occur in the second half of the remedial action period expressed in current dollars.

NR 520.09NR 520.09 Changing methods of proof of financial responsibility. The owner of a solid waste land disposal facility may change from one method of providing proof of financial responsibility under s. NR 520.06 to another, but not more than once per year. A change may only be made on the anniversary of the submittal of the original method of providing proof of financial responsibility. The amount of the new method of providing proof of financial responsibility shall be in the amount that is equal to the amount that would have accumulated had the new method been used as the original method.

NR 520.10NR 520.10 Adjustment of financial responsibility. The owner of a facility identified in Table 1 as being required to establish proof of financial responsibility shall submit to the department proof of the adjustment of the amounts of the proof mechanisms for closure, long-term care and remediation. Proof mechanisms shall be adjusted as follows:

NR 520.10(1)(1) All proof mechanisms shall be adjusted annually to account for increases in cost estimates based on adjustments for inflation. The annual proof mechanism adjustments shall be submitted to the department by December 31.

NR 520.10(2)(2) Adjusted proof mechanisms shall be within 60 days after a new cost estimate submitted in accordance with s. NR 520.07 is approved by the department. The adjusted proof mechanisms shall be in an amount adequate to cover the most recently approved cost estimate.

NR 520.10(3)(3) For companies using the net worth test under s. NR 520.06 (6), the updated net worth test information as required under s. 289.41 (4), Stats., shall be submitted annually to the department within 90 days after the close of the company’s fiscal year.

NR 520.10(4)(4) For facilities using trust accounts, escrow accounts or deposits with the department to demonstrate proof of financial responsibility, revised proof of financial responsibility calculations shall be performed in accordance with s. NR 520.08 and submitted to the department by March 1 of the year succeeding the calendar year in which any or all of the following activities occur:

NR 520.11NR 520.11 Access and default. Whenever on the basis of any reliable information, and after opportunity for a hearing, the department determines that an owner or operator of a solid waste land disposal facility is in violation of any of the requirements for closure, long-term care or remedial action specified in a department approval, the department and its designees shall have the right to enter upon the facility and carry out the closure, long-term care or remedial action requirements. The department may use part or all of the money deposited with it, or the money deposited in escrow or trust accounts, or performance or forfeiture bonds, or letters of credit, insurance, or funds accumulated under other approved methods to carry out the closure, long-term care or remedial action requirements.