Financial Assurance and Full-Cost Disclosure
Financial Assurance for Solid Waste Facilities
The S.C. Solid Waste Policy and Management Act of 1991 (Act) requires that all permitted landfills, processing facilities, transfer stations, incinerators, composting facilities, and tire processors have a financial assurance mechanism in place to assure that money is available for clean-up of the facility at the time of closure and to cover any post-closure care that may be required. Financial assurance is also supposed to be provided for any corrective action at landfills where groundwater contamination has been detected. Types of financial assurance mechanisms approvable by DHEC include Letters of Credit, Trust Fund Agreements, Financial Guarantee Bonds, Insurance Policies, Certificates of Deposit, Local Government Financial Tests and Local Government Guarantees. For more information click here.
The Act also requires that any local governments that provide solid waste management services publish annually, on or before October 1, a notice in a newspaper of general circulation, the full cost of its solid waste management services for the most recently completed fiscal year. In addition, the Act and Full Cost Disclosure Regulation 61-107.2 require that each local government submit annual Full Cost Disclosure information to the Department on or before October 15.
For more information e-mail or call 1-800-768-7348.
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For more information about recycling in South Carolina, please call 1-800-768-7348.
This Web page was last updated on November 9, 2007.