Discounting.

The Director of an approved State may allow discounting of closure cost estimates in § 258.71(a), post-closure cost estimates in § 258.72(a), and/or corrective action costs in § 258.73(a) up to the rate of return for essentially risk free investments, net of inflation, under the following conditions: (a) The State Director determines that cost estimates are complete and accurate and the owner or operator has submitted a statement from a Registered Professional Engineer so stating; (b) The State finds the facility in compliance with applicable and appropriate permit conditions; (c) The State Director determines that the closure date is certain and the owner or operator certifies that there are no foreseeable factors that will change the estimate of site life; and (d) Discounted cost estimates must be adjusted annually to reflect inflation and years of remaining life. [61 FR 60339, Nov. 27, 1996]