[Federal Register Volume 59, Number 111 (Friday, June 10, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-14171]


[[Page Unknown]]

[Federal Register: June 10, 1994]


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ENVIRONMENTAL PROTECTION AGENCY
40 CFR Parts 144, 264, and 280

[FRL-4894-3]

 

Standards Applicable to Owners and Operators of Hazardous Waste 
Treatment, Storage, and Disposal Facilities, Underground Storage Tanks, 
and Underground Injection Control Systems; Financial Assurance; Letter 
of Credit

AGENCY: Environmental Protection Agency.

ACTION: Final rule; amendment.

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SUMMARY: EPA is amending the regulations related to financial assurance 
promulgated under Subtitles C and I of the Resource Conservation and 
Recovery Act (RCRA). Those regulations cite the ``Uniform Customs and 
Practice for Documentary Credits,'' published by the International 
Chamber of Commerce. This notice inserts the words ``and copyrighted'' 
into the letter of credit instrument to clarify that the International 
Chamber of Commerce publication is copyrighted material. As a result of 
this notice, owners and operators using the letter of credit instrument 
to demonstrate financial assurance must include this additional 
language.

EFFECTIVE DATE: August 9, 1994.

FOR FURTHER INFORMATION CONTACT:
Tom Gorman at (202) 260-1339, Office of General Counsel, U.S. 
Environmental Protection Agency, 401 M St. SW., Washington, DC 20460.

SUPPLEMENTARY INFORMATION:

I. Authority

    This amendment is promulgated under the authority of Sections 
2002(a), 3004, 3005, and 3006 of the Resource Conservation and Recovery 
Act, as amended, 42 U.S.C. 6912, 6924, 6925, 6926, and 6991, and under 
the authority of the Safe Drinking Water Act, 42 U.S.C. 300f et seq.

II. Background

    Owners and operators of hazardous waste treatment, storage, and 
disposal facilities must demonstrate financial assurance for costs of 
closure, post-closure care, third-party liability and corrective action 
associated with their facilities. In subpart H of 40 CFR part 264, the 
Agency has established regulations regarding financial assurance for 
closure, post-closure care, and third party liability. Section 264.151 
provides wording for the various financial instruments that owners and 
operators may use to demonstrate financial assurance. Section 
264.151(d) provides wording for a letter of credit to demonstrate 
financial assurance for closure and post-closure care, and 
Sec. 264.151(k) provides wording for a letter of credit to demonstrate 
financial assurance for third-party liability.
    The RCRA regulations in 40 CFR part 280 impose similar requirements 
on owners and operators of underground storage tanks. Under those 
provisions, owners and operators of underground storage tanks must 
demonstrate financial assurance for taking corrective action and for 
third party liability. The regulations then establish a series of 
mechanisms that owners and operators can use. Section 280.99 provides 
the wording for a letter of credit, which is one of those allowable 
mechanisms.
    Finally, the regulations at 40 CFR part 144, subpart F for the 
Underground Injection Control Program contain specific requirements for 
financial responsibility for Class I hazardous waste injection wells. 
Class I wells inject industrial and municipal wastes, including RCRA 
hazardous wastes, below the lowermost underground source of drinking 
water (USDW). 40 CFR part 144, subpart F, is directly applicable to 
owners and operators of all Class I hazardous waste injection wells.

III. Purpose of This Notice

    The wording of the letter of credit instrument in Secs. 144.70(d), 
264.151 (d) and (k), and Sec. 280.99 includes a reference to the 
``Uniform Customs and Practice for Documentary Credits,'' published by 
the International Chamber of Commerce. However, the language does not 
make it clear that the International Chamber of Commerce publication is 
copyrighted material.
    This correction notice amends the letter of credit instrument in 
Secs. 144.70(d), 264.151 (d) and (k), and 280.99 to clarify that the 
International Chamber of Commerce publication is copyrighted material 
by including the words ``and copyrighted'' in the wording of the letter 
of credit instrument. As a result of this change to the regulations, 
owners and operators who obtain a letter of credit to demonstrate 
financial assurance must use the revised language in Sec. 264.151(d), 
264.151(k), or 280.99(b), which includes the words ``and copyrighted.''

IV. Effect on State Authority To Administer Federal Programs

    Since this amendment only revises the description of the document, 
and does not impose new duties on owners or operators that choose to 
rely on letters of credit, EPA will not require states to adopt this 
change as part of their approved UIC and UST programs or authorized 
RCRA programs. Therefore, owners and operators in authorized states 
that do not adopt this change will not be affected by this rule. 
However, EPA encourages states to adopt this change.
    In states that adopt this change and in states without approved UIC 
or UST programs or states not authorized for the RCRA program, new 
letter of credit instruments will have to include this new language.

V. Administrative Procedures Act Requirements

    Under 5 U.S.C. 553(b)(3)(B), a rule is exempt from notice and 
public comment requirements ``when the agency for good cause finds (and 
incorporates the finding and a brief statement of reasons therefore in 
the rules issues) that notice and public procedures thereon are 
impractical, unnecessary, or contrary to the public interest.'' EPA 
believes that comment is unnecessary because this amendment makes only 
a change in the wording of the letter of credit instrument, but does 
not change the requirements for using the letter of credit instrument 
to demonstrate financial assurance. Therefore, EPA believes there is 
good cause to make today's rule effective on August 9, 1994.

List of Subjects

40 CFR Part 144

    Environmental protection, Administrative practice and procedure, 
Confidential Business Information, Hazardous waste, Indian--lands, 
Reporting and recordkeeping requirements, Surety bonds, Water supply.

40 CFR Part 264

    Environmental protection, Air pollution control, Hazardous waste, 
Insurance, Packaging and containers, Reporting and recordkeeping 
requirements, Security measures, Surety bonds.

40 CFR Part 280

    Environmental protection, Hazardous substances, Insurance, Oil 
pollution, Reporting and recordkeeping requirements, Surety bonds, 
Water pollution control, Water supply.

    Dated: April 15, 1994.
Elliott Laws,
Assistant Administrator, Office of Solid Waste and Emergency Response.
    Dated: April 25, 1994.
Robert Perciasepe,
Assistant Administrator, Office of Water.

PART 144--UNDERGROUND INJECTION CONTROL PROGRAM

    1. The authority citation for part 144 continues to read as 
follows:

    Authority: Safe Drinking Water Act, 42 U.S.C. 300f et seq.; 
Resource Conservation and Recovery Act, 42 U.S.C. 6901 et seq.

    2. In Sec. 144.70, the last sentence in paragraph (d) is revised to 
read as follows:


Sec. 144.70  Wording of the instruments.

* * * * *
    (d) * * * This credit is subject to [insert ``the most recent 
edition of the Uniform Customs and Practice for Documentary Credits, 
published and copyrighted by the International Chamber of Commerce,'' 
or ``the Uniform Commercial Code''].
* * * * *

PART 264--STANDARDS FOR OWNERS AND OPERATORS OF HAZARDOUS WASTE 
TREATMENT, STORAGE, AND DISPOSAL FACILITIES

    1. The authority citation for part 264 continues to read as 
follows:

    Authority: 42 U.S.C. 6905, 6912(a), 6924, and 6925.

    2. In Sec. 264.151, the last sentence in paragraphs (d) and (k) is 
revised to read as follows:


Sec. 264.151  Wording of the instruments.

* * * * *
    (d) * * * This credit is subject to [insert ``the most recent 
edition of the Uniform Customs and Practice for Documentary Credits, 
published and copyrighted by the International Chamber of Commerce,'' 
or ``the Uniform Commercial Code''].
* * * * *
    (k) * * * This credit is subject to [insert ``the most recent 
edition of the Uniform Customs and Practice for Documentary Credits, 
published and copyrighted by the International Chamber of Commerce,'' 
or ``the Uniform Commercial Code''].
* * * * *

PART 280--TECHNICAL STANDARDS AND CORRECTIVE ACTION REQUIREMENTS 
FOR OWNERS AND OPERATORS OF UNDERGROUND STORAGE TANKS (UST)

    1. The authority citation for part 280 continues to read as 
follows:

    Authority: 42 U.S.C. 6912, 6991, 6991a, 6991b, 6991c, 6991d, 
6991e, 6991f, and 6991h.

    2. In Sec. 280.99, the last sentence of paragraph (b) is revised to 
read as follows:


Sec. 280.99  Letter of credit.

* * * * *
    (b) * * * This credit is subject to [insert ``the most recent 
edition of the Uniform Customs and Practice for Documentary Credits, 
published and copyrighted by the International Chamber of Commerce,'' 
or ``the Uniform Commercial Code''].
* * * * *
[FR Doc. 94-14171 Filed 6-9-94; 8:45 am]
BILLING CODE 6560-50-P