Bill > H719

This bill allows the Department of Environmental Protection (DEP), referred to as "the department," to review financial assurance mechanisms for former landfill sites that are still subject to post-closure requirements, meaning ongoing monitoring and maintenance after a landfill has stopped accepting waste. These reviews, which can lead to adjustments in the required financial assurance (like bonds or insurance that guarantee funds for cleanup and monitoring), will only happen at the request of the site owner, their successors, or assigns, and will occur every 10 years of compliance with DEP protocols. The DEP will be responsible for proving why the financial assurance is still needed and will decide whether to reduce, increase, terminate, or keep the existing financial assurance based on environmental safety, historical data, and the site's compliance history, providing specific data to support their decision. Furthermore, entities that are in compliance with all post-closure requirements and are still operating a commercial business at the site will receive an automatic 20% reduction in their financial assurance after each review, with a maximum cumulative reduction of 80% of the original amount. Owners who have maintained their entity for over 10 years at the time the bill passes can get an immediate review, while those who haven't will be eligible for review 10 years after the bill's passage, and the DEP has 180 days to create rules for these reviews.