HOUSE BILL 971295
BY REPRESENTATIVES Udall, Clarke, Grossman, Paschall, Schwarz, Sullivant, and Tupa;
also SENATORS Hopper and Rupert.
CONCERNING AUTHORIZING THE DEPARTMENT OF PUBLIC HEALTH
AND ENVIRONMENT TO OBTAIN FINANCIAL ASSURANCE WARRANTIES AS PART
OF A LICENSE TO USE RADIOACTIVE MATERIAL.
Be it enacted by the General Assembly of the State
of Colorado:
SECTION 1. 2511104
(1) (a), Colorado Revised Statutes, 1989 Repl. Vol., as amended,
is amended, and the said 25-11-104 (1) is further amended BY THE
ADDITION OF A NEW PARAGRAPH to read:
2511104. Rules and regulations
to be adopted fees fund created.
(1) (a) The state board of health shall formulate,
adopt, and promulgate rules and regulations as provided in subsections
(2) and (2.5) of this section which shall cover subject matter
relative to radioactive materials, including but not limited to
naturally occurring radioactive materials, and other sources of
ionizing radiation. The subject matter of such rules and regulations
shall include, but not be limited to: Licenses and registration,
records, permissible levels of exposure, notification and reports
of accidents, technical qualifications of personnel, technical
qualifications of mammographers, handling, transportation and
storage, waste disposal, posting and labeling of hazardous sources
and areas, surveys, and
monitoring, AND FINANCIAL ASSURANCE WARRANTIES.
(c) NOTWITHSTANDING ANY PROVISION OF SECTION
2511103 (7) (h), IT IS NOT NECESSARY THAT A GOVERNMENTAL
ENTITY OWN ANY SITE THAT IS USED FOR THE CONCENTRATION, STORAGE,
OR DISPOSAL OF RADIOACTIVE MATERIAL THAT AT THE TIME OF ITS ACCEPTANCE
FOR CONCENTRATION, STORAGE, OR DISPOSAL IS OWNED OR GENERATED
BY THE UNITED STATES DEPARTMENT OF ENERGY, AND THAT IS DEFINED
AS LOWLEVEL RADIOACTIVE WASTE UNDER THE FEDERAL "LOWLEVEL
RADIOACTIVE WASTE POLICY ACT AMENDMENTS OF 1986", AS AMENDED,
SO LONG AS THE OWNER OF SUCH SITE COMPLIES WITH REGULATIONS PROMULGATED
BY THE BOARD IN ACCORDANCE WITH THIS SECTION. SUCH REGULATIONS
SHALL ENSURE THE LONG-TERM PROTECTION OF THE PUBLIC HEALTH AND
SAFETY AND MAY INCLUDE, BUT ARE NOT LIMITED TO, FINANCIAL ASSURANCE
WARRANTIES PURSUANT TO THIS PART 1, DEED ANNOTATIONS AND RESTRICTIONS,
EASEMENT PROVISIONS, RESTRICTIVE COVENANTS, AND ADEQUATE MARKERS
TO WARN OF THE PRESENCE OF RADIOACTIVE MATERIALS.
SECTION 2. Part
1 of article 11 of title 25, Colorado Revised Statutes, 1989 Repl.
Vol., as amended, is amended BY THE ADDITION OF THE FOLLOWING
NEW SECTIONS to read:
2511110. Financial assurance
warranties definitions. (1) AS
A PART OF ANY LICENSE, CERTIFICATE, OR AUTHORIZATION ISSUED UNDER
THIS ARTICLE AND PURSUANT TO REGULATIONS PROMULGATED BY THE STATE
BOARD OF HEALTH, THE DEPARTMENT MAY REQUIRE FINANCIAL ASSURANCE
WARRANTIES.
(2) AS USED IN THIS SECTION, UNLESS THE
CONTEXT OTHERWISE REQUIRES:
(a) "DECOMMISSIONING WARRANTY"
MEANS A FINANCIAL ASSURANCE ARRANGEMENT PROVIDED BY A PERSON LICENSED,
CERTIFIED, OR AUTHORIZED PURSUANT TO THIS ARTICLE THAT IS REQUIRED
TO ENSURE DECOMMISSIONING AND DECONTAMINATION OF A FACILITY AND
PROPER DISPOSAL OF RADIOACTIVE MATERIALS TO MEET THE REQUIREMENTS
OF THIS PART 1, THE REGULATIONS PROMULGATED PURSUANT THERETO,
OR THE LICENSE.
(b) "FINANCIAL ASSURANCE WARRANTY"
MEANS A DECOMMISSIONING WARRANTY OR A LONGTERM CARE WARRANTY.
(c) "INDIRECT COSTS" MEANS THOSE
COSTS ESTABLISHED ANNUALLY IN ACCORDANCE WITH FEDERAL CIRCULAR
A87, OR ANY APPLICABLE SUCCESSOR DOCUMENT.
(d) "LONGTERM CARE WARRANTY"
MEANS A FINANCIAL ASSURANCE ARRANGEMENT PROVIDED BY A PERSON LICENSED,
CERTIFIED, OR AUTHORIZED PURSUANT TO THIS ARTICLE THAT IS REQUIRED
TO COVER THE COSTS INCURRED BY THE DEPARTMENT IN CONDUCTING SURVEILLANCE
OF A DISPOSAL SITE IN PERPETUITY SUBSEQUENT TO THE TERMINATION
OF THE RADIOACTIVE MATERIALS LICENSE FOR THAT SITE.
(3) (a) FINANCIAL ASSURANCE WARRANTIES
MAY BE PROVIDED BY THE LICENSEE OR BY A THIRD PARTY OR COMBINATION
OF PERSONS.
(b) ANY FINANCIAL ASSURANCE WARRANTY REQUIRED
PURSUANT TO THIS SECTION SHALL BE IN A FORM PRESCRIBED BY THE
STATE BOARD OF HEALTH BY REGULATION.
(c) THE DEPARTMENT MAY REFUSE TO ACCEPT
ANY FINANCIAL ASSURANCE WARRANTY IF:
(I) THE FORM, CONTENT, OR TERMS OF THE
WARRANTY ARE OTHER THAN AS PRESCRIBED BY THE STATE BOARD OF HEALTH
BY REGULATION;
(II) THE FINANCIAL INSTITUTION PROVIDING
THE FINANCIAL ASSURANCE INSTRUMENT IS AN OFFSHORE, NONDOMESTIC
INSTITUTION OR DOES NOT HAVE A REGISTERED AGENT IN THE STATE OF
COLORADO;
(III) THE VALUE OF THE FINANCIAL ASSURANCE
WARRANTY OFFERED IS DEPENDENT UPON THE SUCCESS, PROFITABILITY,
OR CONTINUED OPERATION OF THE LICENSED BUSINESS OR OPERATION;
OR
(IV) THE DEPARTMENT DETERMINES THAT THE
FINANCIAL ASSURANCE WARRANTY CANNOT BE CONVERTED TO CASH WITHIN
THIRTY DAYS AFTER FORFEITURE.
(4) (a) THE DEPARTMENT SHALL DETERMINE
THE AMOUNT OF FINANCIAL ASSURANCE WARRANTIES REQUIRED, TAKING
INTO ACCOUNT THE NATURE, EXTENT, AND DURATION OF THE LICENSED
ACTIVITIES AND THE MAGNITUDE, TYPE, AND ESTIMATED COST FOR PROPER
DISPOSAL OF RADIOACTIVE MATERIALS, DECONTAMINATION, AND DECOMMISSIONING
OR LONGTERM CARE.
(b) THE AMOUNT OF A DECOMMISSIONING WARRANTY
SHALL BE SUFFICIENT TO ENABLE THE DEPARTMENT TO DISPOSE OF RADIOACTIVE
MATERIALS AND COMPLETE DECONTAMINATION AND DECOMMISSIONING OF
AFFECTED BUILDINGS, FIXTURES, EQUIPMENT, PERSONAL PROPERTY, AND
LANDS IF NECESSARY.
(c) THE AMOUNT OF THE DECOMMISSIONING
WARRANTY SHALL BE BASED UPON COST ESTIMATES OF THE TOTAL COSTS
THAT WOULD BE INCURRED IF AN INDEPENDENT CONTRACTOR WERE HIRED
TO PERFORM THE DECOMMISSIONING, DECONTAMINATION, AND DISPOSAL
WORK, AND MAY INCLUDE REASONABLE ADMINISTRATIVE COSTS, INCLUDING
INDIRECT COSTS, INCURRED BY THE DEPARTMENT IN CONDUCTING OR OVERSEEING
DISPOSAL, DECONTAMINATION, AND DECOMMISSIONING AND TO COVER THE
DEPARTMENT'S REASONABLE ATTORNEY COSTS THAT MAY BE INCURRED IN
SUCCESSFULLY REVOKING, FORECLOSING, OR REALIZING THE DECOMMISSIONING
WARRANTY AS AUTHORIZED IN SECTION 2511111 (4).
(d) THE AMOUNT OF A LONGTERM CARE
WARRANTY SHALL BE ENOUGH THAT, WITH AN ASSUMED SIX PERCENT ANNUAL
REAL INTEREST RATE, THE ANNUAL INTEREST EARNINGS WILL BE SUFFICIENT
TO COVER THE ANNUAL COSTS OF SITE SURVEILLANCE BY THE DEPARTMENT,
INCLUDING REASONABLE ADMINISTRATIVE COSTS INCURRED BY THE DEPARTMENT,
IN PERPETUITY, SUBSEQUENT TO THE TERMINATION OF THE RADIOACTIVE
MATERIALS LICENSE FOR THAT SITE.
(e) IF THE STATE OF COLORADO IS THE LONGTERM
CARETAKER FOR THE DISPOSAL FACILITY PURSUANT TO SECTION 2511103
(7) (h), LONGTERM CARE MONEYS SHALL BE TRANSFERRED, PURSUANT
TO SECTION 2511113 (3), TO THE LONGTERM CARE
FUND, CREATED IN SECTION 2511113, PRIOR TO LICENSE
TERMINATION AND SHALL BE USED BY THE DEPARTMENT TO PERFORM SITE
SURVEILLANCE AND TO COVER THE DEPARTMENT'S ADMINISTRATIVE AND
REASONABLE ATTORNEY COSTS.
(f) THE DEPARTMENT IS AUTHORIZED TO TRANSFER
A LONGTERM CARE WARRANTY TO THE UNITED STATES DEPARTMENT
OF ENERGY OR ANOTHER FEDERAL AGENCY IF THAT AGENCY WILL BE THE
LONGTERM CARETAKER FOR THE DISPOSAL FACILITY.
(5) THE DEPARTMENT SHALL TAKE REASONABLE
MEASURES TO ASSURE THE CONTINUED ADEQUACY OF ANY FINANCIAL ASSURANCE
WARRANTY AND MAY ANNUALLY OR FOR GOOD CAUSE INCREASE OR DECREASE
THE AMOUNT OF REQUIRED FINANCIAL ASSURANCE WARRANTIES OR REQUIRE
PROOF OF VALUE OF EXISTING WARRANTIES. THE LICENSEE SHALL HAVE
SIXTY DAYS AFTER THE DATE OF WRITTEN NOTIFICATION BY THE DEPARTMENT
OF A REQUIRED ADJUSTMENT, TO ESTABLISH A WARRANTY FULFILLING ALL
NEW REQUIREMENTS UNLESS GRANTED AN EXTENSION BY THE DEPARTMENT.
IF THE LICENSEE DISPUTES THE AMOUNT OF THE REQUIRED FINANCIAL
ASSURANCE WARRANTIES, THE LICENSEE MAY REQUEST A HEARING TO BE
CONDUCTED IN ACCORDANCE WITH SECTION 244105, C.R.S.
(6) (a) FINANCIAL ASSURANCE WARRANTIES
SHALL BE MAINTAINED IN GOOD STANDING UNTIL THE DEPARTMENT HAS
AUTHORIZED IN WRITING THE DISCONTINUANCE OF SUCH WARRANTIES.
(b) (I) IF A FINANCIAL WARRANTY IS
PROVIDED BY A CORPORATE SURETY, THE DEPARTMENT SHALL REQUIRE THE
SURETY TO BE A.M. BEST RATED "AV" OR BETTER AND
LISTED ON THE UNITED STATES TREASURY'S FEDERAL REGISTER OF COMPANIES
HOLDING CERTIFICATES OF AUTHORITY AS ACCEPTABLE SURETIES ON FEDERAL
BONDS; EXCEPT THAT, THE CORPORATE SURETY SHALL NOTIFY THE DEPARTMENT
AND THE LICENSEE, IN WRITING, AS SOON AS PRACTICABLE IN THE EVENT
ITS A.M.BEST, OR EQUIVALENT, RATING DETERIORATES BELOW AN "A-V"
RATING OR SUCH CORPORATE SURETY IS REMOVED FROM THE DEPARTMENT
OF THE TREASURY'S LIST OF COMPANIES HOLDING CERTIFICATES OF AUTHORITY
AS ACCEPTABLE SURETIES ON FEDERAL BONDS.
(II) THE BOARD MAY PROMULGATE RULES AND
REGULATIONS CONCERNING OTHER CIRCUMSTANCES THAT MAY CONSTITUTE
AN IMPAIRMENT OF THE WARRANTIES REFERENCED IN THIS ARTICLE THAT
WOULD REQUIRE REASONABLE NOTICE TO THE DEPARTMENT BY THE WARRANTOR.
(III) A FINANCIAL WARRANTOR SHALL NOTIFY
THE DEPARTMENT NOT LESS THAN NINETY DAYS PRIOR TO ANY CANCELLATION,
TERMINATION, OR REVOCATION OF THE WARRANTY, UNLESS THE DEPARTMENT
HAS AUTHORIZED IN WRITING THE DISCONTINUANCE OF SUCH WARRANTIES.
2511111. Forfeiture of
decommissioning warranties use of funds.
(1) A DECOMMISSIONING WARRANTY SHALL BE SUBJECT TO
IMMEDIATE FORFEITURE WHENEVER THE DEPARTMENT DETERMINES THAT ANY
ONE OF THE FOLLOWING CIRCUMSTANCES EXIST:
(a) THE LICENSEE HAS VIOLATED AN EMERGENCY,
ABATEMENT, OR CEASE AND DESIST ORDER OR COURTORDERED INJUNCTION
OR TEMPORARY RESTRAINING ORDER RELATED TO DECOMMISSIONING, DECONTAMINATION,
OR DISPOSAL AND, IF DECOMMISSIONING, DECONTAMINATION, OR DISPOSAL
WAS REQUIRED IN SUCH ORDER, HAS FAILED TO COMPLETE SUCH DECOMMISSIONING,
DECONTAMINATION, OR DISPOSAL ALTHOUGH REASONABLE TIME TO HAVE
DONE SO HAS ELAPSED; OR
(b) THE LICENSEE IS IN VIOLATION OF DECOMMISSIONING,
DECONTAMINATION, OR DISPOSAL REQUIREMENTS AS SPECIFIED IN THE
LICENSE AND THE REGULATIONS AND HAS FAILED TO CURE SUCH VIOLATION
ALTHOUGH THE LICENSEE HAS BEEN GIVEN WRITTEN NOTICE THEREOF PURSUANT
TO SECTION 2511107 (5) AND HAS HAD REASONABLE TIME
TO CURE SUCH VIOLATION; OR
(c) THE LICENSEE HAS FAILED TO PROVIDE
AN ACCEPTABLE REPLACEMENT WARRANTY WHEN:
(I) THE LICENSEE'S FINANCIAL WARRANTOR
NO LONGER HAS THE FINANCIAL ABILITY TO CARRY OUT OBLIGATIONS UNDER
THIS ARTICLE; OR
(II) THE DEPARTMENT HAS RECEIVED NOTICE
OR INFORMATION THAT THE FINANCIAL WARRANTOR INTENDS TO CANCEL,
TERMINATE, OR REVOKE THE WARRANTY; OR
(d) THE LICENSEE HAS FAILED TO MAINTAIN
ITS FINANCIAL ASSURANCE WARRANTY IN GOOD STANDING AS REQUIRED
BY SECTION 2511110 (6) (a); OR
(e) AN EMERGENCY ENDANGERING PUBLIC HEALTH
OR SAFETY HAS BEEN CAUSED BY OR RESULTED FROM THE LICENSEE'S USE
OR POSSESSION OF RADIOACTIVE MATERIALS.
(2) (a) UPON DETERMINING THAT A DECOMMISSIONING
WARRANTY SHOULD BE FORFEITED UNDER SUBSECTION (1) OF THIS SECTION,
THE DEPARTMENT SHALL ISSUE TO THE LICENSEE AN ORDER FORFEITING
THE DECOMMISSIONING WARRANTY. THE ORDER SHALL CONTAIN WRITTEN
FINDINGS OF FACT AND CONCLUSIONS OF LAW TO SUPPORT ITS DECISION
AND SHALL DIRECT AFFECTED FINANCIAL WARRANTORS TO DELIVER TO THE
DEPARTMENT THE FULL AMOUNTS WARRANTED BY APPLICABLE DECOMMISSIONING
WARRANTIES WITHIN NOT MORE THAN THIRTY DAYS AFTER THE DATE OF
THE ORDER.
(b) THE LICENSEE MAY REQUEST A HEARING
ON THE ORDER OF FORFEITURE THAT SHALL BE CONDUCTED IN ACCORDANCE
WITH SECTION 244105, C.R.S., AND THAT, IF THE DEPARTMENT
ALLEGES IN THE FORFEITURE ORDER A VIOLATION OF A LICENSE, REGULATION,
OR ORDER, THE HEARING MAY BE CONDUCTED IN CONJUNCTION WITH A HEARING
REQUESTED UNDER SECTION 2511107 (5). ANY REQUEST FOR
A HEARING PURSUANT TO THIS PART 1 SHALL BE MADE WITHIN TWENTY
DAYS AFTER THE DATE OF THE ORDER OF FORFEITURE AND SHALL NOT AFFECT
THE OBLIGATION TO SUBMIT TO THE DEPARTMENT FUNDS FROM DECOMMISSIONING
WARRANTIES FORFEITED BY SUCH ORDER UNLESS A STAY OF FORFEITURE
IS GRANTED BY THE DEPARTMENT OR BY ADMINISTRATIVE OR JUDICIAL
ORDER.
(3) THE DEPARTMENT MAY REQUEST THE ATTORNEY
GENERAL, AND THE ATTORNEY GENERAL IS AUTHORIZED, TO COMMENCE LEGAL
PROCEEDINGS NECESSARY TO SECURE OR RECOVER AMOUNTS WARRANTED BY
DECOMMISSIONING WARRANTIES. THE ATTORNEY GENERAL SHALL HAVE THE
POWER TO COLLECT, FORECLOSE UPON, PRESENT FOR PAYMENT, TAKE POSSESSION
OF, OR DISPOSE OF PLEDGED PROPERTY, AND OTHERWISE REDUCE TO CASH
ANY FINANCIAL ASSURANCE ARRANGEMENT REQUIRED BY THIS ARTICLE.
(4) (a) DECOMMISSIONING FUNDS RECOVERED
BY THE DEPARTMENT PURSUANT TO THIS SECTION SHALL BE IMMEDIATELY
DEPOSITED INTO THE DECOMMISSIONING FUND CREATED IN SECTION 2511113
AND SHALL BE USED SOLELY FOR THE DISPOSAL OF RADIOACTIVE MATERIALS
FOR THE FACILITY COVERED BY THE FORFEITED FINANCIAL ASSURANCE
WARRANTIES; THE DECOMMISSIONING AND DECONTAMINATION OF BUILDINGS,
EQUIPMENT, PERSONAL PROPERTY, AND LANDS COVERED BY THE FORFEITED
FINANCIAL ASSURANCE WARRANTIES; AND TO COVER THE DEPARTMENT'S
REASONABLE ATTORNEY AND ADMINISTRATIVE COSTS ASSOCIATED WITH DISPOSAL,
DECOMMISSIONING, AND DECONTAMINATION FOR SUCH FACILITY.
(b) THE DEPARTMENT OR ITS AGENT SHALL
HAVE A RIGHT TO ENTER PROPERTY OF THE LICENSEE TO DISPOSE OF RADIOACTIVE
MATERIALS, DECOMMISSION, AND DECONTAMINATE BUILDINGS, EQUIPMENT,
PERSONAL PROPERTY, AND LANDS. UPON COMPLETION OF DISPOSAL, DECOMMISSIONING,
AND DECONTAMINATION ACTIVITIES, THE DEPARTMENT SHALL PRESENT TO
THE LICENSEE A FULL ACCOUNTING AND SHALL REFUND ALL UNSPENT DECOMMISSIONING
WARRANTY MONEYS, INCLUDING INTEREST.
(5) LICENSEES SHALL REMAIN LIABLE FOR
THE TOTAL ACTUAL COST OF DISPOSAL OF, DECOMMISSIONING, AND DECONTAMINATING
AFFECTED BUILDINGS, EQUIPMENT, PERSONAL PROPERTY, AND LANDS, LESS
ANY AMOUNTS EXPENDED BY THE DEPARTMENT PURSUANT TO SUBSECTION
(4) OF THIS SECTION, NOTWITHSTANDING ANY DISCHARGE OF APPLICABLE
FINANCIAL ASSURANCE WARRANTIES.
2511112. Forfeiture of
longterm care warranty use of funds. (1) A
LONGTERM CARE WARRANTY SHALL BE SUBJECT TO IMMEDIATE FORFEITURE
WHENEVER THE DEPARTMENT DETERMINES THAT ANY ONE OF THE FOLLOWING
CIRCUMSTANCES EXIST:
(a) THE LICENSEE IS IN VIOLATION OF LONGTERM
CARE REQUIREMENTS AS SPECIFIED IN THE LICENSE AND THE REGULATIONS
AND HAS FAILED TO CURE SUCH VIOLATION ALTHOUGH THE LICENSEE HAS
BEEN GIVEN WRITTEN NOTICE THEREOF PURSUANT TO SECTION 2511107
(5) AND HAS HAD REASONABLE TIME TO CURE SUCH VIOLATION; OR
(b) THE LICENSEE HAS FAILED TO PROVIDE
AN ACCEPTABLE REPLACEMENT WARRANTY WHEN:
(I) THE LICENSEE'S FINANCIAL WARRANTOR
NO LONGER HAS THE FINANCIAL ABILITY TO CARRY OUT OBLIGATIONS UNDER
THIS ARTICLE; OR
(II) THE DEPARTMENT HAS RECEIVED NOTICE
OR INFORMATION THAT THE FINANCIAL WARRANTOR INTENDS TO CANCEL,
TERMINATE, OR REVOKE THE WARRANTY; OR
(c) THE LICENSEE HAS FAILED TO MAINTAIN
ITS FINANCIAL ASSURANCE WARRANTY IN GOOD STANDING AS REQUIRED
BY SECTION 2511110 (6) (a).
(2) (a) A LONGTERM CARE WARRANTY
SHALL BE SUBJECT TO IMMEDIATE USE AND EXPENDITURE BY THE DEPARTMENT
WHENEVER THE DEPARTMENT DETERMINES THAT DISPOSAL, DECOMMISSIONING,
AND DECONTAMINATION REQUIREMENTS SPECIFIED IN THE LICENSE CONDITIONS
AND REGULATIONS HAVE BEEN SATISFIED. THE DEPARTMENT SHALL GIVE
THE LICENSEE WRITTEN NOTICE OF THE DEPARTMENT'S INTENT TO USE
THE LONGTERM CARE WARRANTY FOR LONGTERM CARE PURPOSES.
THE NOTICE SHALL CONTAIN FINDINGS OF FACT AND CONCLUSIONS OF LAW
TO SUPPORT ITS DECISION AND SHALL DIRECT AFFECTED FINANCIAL WARRANTORS
TO DELIVER TO THE DEPARTMENT THE FULL AMOUNTS WARRANTED BY APPLICABLE
LONGTERM CARE WARRANTIES WITHIN NOT MORE THAN THIRTY DAYS
AFTER THE DATE OF THE NOTICE.
(b) THE LICENSEE MAY REQUEST A HEARING
ON A NOTICE UNDER PARAGRAPH (a) OF THIS SUBSECTION (2) THAT SHALL
BE CONDUCTED IN ACCORDANCE WITH SECTION 244105, C.R.S.
ANY REQUEST FOR A HEARING UNDER THIS SUBSECTION (2) SHALL BE MADE
WITHIN THIRTY DAYS AFTER THE DATE OF THE NOTICE AND SHALL NOT
AFFECT THE OBLIGATION TO SUBMIT TO THE DEPARTMENT FUNDS FROM LONGTERM
CARE WARRANTIES UNLESS A STAY IS GRANTED BY THE DEPARTMENT OR
BY ADMINISTRATIVE OR JUDICIAL ORDER.
(3) THE DEPARTMENT MAY REQUEST THE ATTORNEY
GENERAL, AND THE ATTORNEY GENERAL IS AUTHORIZED, TO COMMENCE LEGAL
PROCEEDINGS NECESSARY TO SECURE OR RECOVER AMOUNTS WARRANTED BY
LONGTERM CARE WARRANTIES. THE ATTORNEY GENERAL SHALL HAVE
THE POWER TO COLLECT, FORECLOSE UPON, PRESENT FOR PAYMENT, TAKE
POSSESSION OF, OR DISPOSE OF PLEDGED PROPERTY, AND OTHERWISE REDUCE
TO CASH ANY FINANCIAL ASSURANCE ARRANGEMENT REQUIRED BY THIS ARTICLE.
(4) (a) LONGTERM CARE FUNDS
RECOVERED BY THE DEPARTMENT PURSUANT TO THIS SECTION SHALL BE
IMMEDIATELY DEPOSITED INTO THE LONGTERM CARE FUND CREATED
IN SECTION 2511113 AND SHALL BE USED SOLELY FOR THE
LONGTERM CARE FOR THE FACILITY COVERED BY THE FINANCIAL
ASSURANCE WARRANTY AND TO COVER THE DEPARTMENT'S REASONABLE ATTORNEY
AND ADMINISTRATIVE COSTS ASSOCIATED WITH LONGTERM CARE FOR
SUCH FACILITY.
(b) THE DEPARTMENT OR ITS AGENT SHALL
HAVE A RIGHT TO ENTER PROPERTY OF THE LICENSEE TO PERFORM LONGTERM
CARE AND MONITORING. UPON COMPLETION OF LONGTERM CARE ACTIVITIES,
THE DEPARTMENT SHALL PRESENT TO THE LICENSEE A FULL ACCOUNTING
AND SHALL REFUND ALL UNSPENT WARRANTY MONEYS, INCLUDING INTEREST.
2511113. Forfeitures
deposit radiation control decommissioning fund
longterm care fund. (1) THE
DEPARTMENT IS HEREBY AUTHORIZED TO COLLECT FUNDS FROM FORFEITED
DECOMMISSIONING WARRANTIES AND FROM LONGTERM CARE WARRANTIES.
(2) (a) A FUND TO BE KNOWN AS THE DECOMMISSIONING
FUND IS HEREBY CREATED AND ESTABLISHED IN THE STATE TREASURY.
SUCH FUND SHALL BE INTERESTBEARING AND INVESTED TO RETURN
THE MAXIMUM INCOME FEASIBLE AS DETERMINED BY THE STATE TREASURER
AND CONSISTENT WITH OTHERWISE APPLICABLE STATE LAW. ALL MONEYS
COLLECTED FROM DECOMMISSIONING WARRANTIES PURSUANT TO THIS SECTION
SHALL BE TRANSMITTED TO THE STATE TREASURER WHO SHALL CREDIT THE
SAME TO THE DECOMMISSIONING FUND. ALL MONEYS DEPOSITED IN THE
FUND AND ALL INTEREST EARNED ON MONEYS IN THE FUND SHALL REMAIN
IN THE FUND FOR THE PURPOSES SET FORTH IN THIS PART 1 AND NO PART
THEREOF SHALL BE EXPENDED OR APPROPRIATED FOR ANY OTHER PURPOSE.
NO INVESTMENT EARNINGS OR OTHER MONEYS IN THE FUND SHALL BE SUBJECT
TO ANY MANAGEMENT FEE IMPOSED BY LAW FOR THE BENEFIT OF THE GENERAL
FUND.
(b) THE MONEYS IN THE FUND SHALL BE CONTINUOUSLY
APPROPRIATED FOR THE PURPOSES SET FORTH IN THIS PART 1 AND SHALL
NOT BE TRANSFERRED TO OR REVERT TO THE GENERAL FUND.
(3) MONEYS IN THE DECOMMISSIONING FUND
SHALL BE AVAILABLE FOR USE BY THE DEPARTMENT FOR THE SOLE PURPOSE
OF DISPOSING OF RADIOACTIVE MATERIALS AND COMPLETING DECONTAMINATION
AND DECOMMISSIONING OF AFFECTED BUILDINGS, FIXTURES, EQUIPMENT,
PERSONAL PROPERTY, AND LANDS, AND TO COVER THE DEPARTMENT'S REASONABLE
ATTORNEY COSTS THAT MAY BE INCURRED IN SUCCESSFULLY REVOKING,
FORECLOSING, OR REALIZING ANY DECOMMISSIONING WARRANTY, AND REASONABLE
ADMINISTRATIVE COSTS, INCLUDING INDIRECT COSTS, INCURRED BY THE
DEPARTMENT IN CONDUCTING DISPOSAL, DECONTAMINATION, AND DECOMMISSIONING.
(4) (a) A FUND TO BE KNOWN AS THE LONGTERM
CARE FUND IS HEREBY CREATED AND ESTABLISHED IN THE STATE TREASURY.
SUCH FUND SHALL BE INTERESTBEARING AND INVESTED TO RETURN
THE MAXIMUM INCOME FEASIBLE AS DETERMINED BY THE STATE TREASURER
AND CONSISTENT WITH OTHERWISE APPLICABLE STATE LAW. ALL MONEYS
COLLECTED FROM LONGTERM CARE WARRANTIES PURSUANT TO THIS
SECTION SHALL BE TRANSMITTED TO THE STATE TREASURER WHO SHALL
CREDIT THE SAME TO THE LONGTERM CARE FUND. ALL MONEYS DEPOSITED
IN THE FUND AND ALL INTEREST EARNED ON MONEYS IN THE FUND SHALL
REMAIN IN THE FUND FOR THE PURPOSES SET FORTH IN THIS PART 1 AND
NO PART THEREOF SHALL BE EXPENDED OR APPROPRIATED FOR ANY OTHER
PURPOSE. NO INVESTMENT EARNINGS OR OTHER MONEYS IN THE FUND SHALL
BE SUBJECT TO ANY MANAGEMENT FEE IMPOSED BY LAW FOR THE BENEFIT
OF THE GENERAL FUND.
(b) MONEYS IN THE LONGTERM CARE
FUND SHALL BE ANNUALLY APPROPRIATED BY THE GENERAL ASSEMBLY TO
THE DEPARTMENT IN AN AMOUNT SUFFICIENT TO IMPLEMENT THE PROVISIONS
OF THIS PART 1.
(c) MONEYS IN THE LONGTERM CARE
FUND SHALL BE AVAILABLE FOR USE BY THE DEPARTMENT FOR THE SOLE
PURPOSES OF:
(I) PERFORMING ANNUAL SITE INSPECTIONS
TO CONFIRM THE INTEGRITY OF THE STABILIZED WASTE SYSTEM, ENVIRONMENTAL
MONITORING, AND MAINTENANCE OF THE WASTE DISPOSAL SITE, INCLUDING
FIXTURES, COVER, AND EQUIPMENT;
(II) COVERING THE DEPARTMENT'S REASONABLE
ATTORNEY COSTS THAT MAY BE INCURRED IN SUCCESSFULLY COLLECTING
OR REALIZING ANY LONGTERM CARE WARRANTY, AND REASONABLE
ADMINISTRATIVE COSTS, INCLUDING INDIRECT COSTS, INCURRED BY THE
DEPARTMENT IN CONDUCTING LONGTERM CARE OF THE DISPOSAL FACILITY.
SECTION 3. Effective date applicability. (1) This act shall take effect on August 15, 1997; except that, if a referendum petition is filed against this act or an item, section, or part of this act within the ninetyday period after final adjournment of the general assembly that is allowed for submitting a referendum petition pursuant to article V, section 1 (3) of the state constitution, then the act, item, section, or part, if approved by the people, shall take effect on the date of the official declaration of the vote thereon by proclamation of the governor.
(2) The provisions of this act shall apply
to all licenses issued or renewed pursuant to part 1 of article
11 of title 25, Colorado Revised Statutes, on or after the applicable
effective date of this act.
____________________________ ____________________________
Charles E. Berry Tom Norton
SPEAKER OF THE HOUSE PRESIDENT OF
OF REPRESENTATIVES THE SENATE
____________________________ ____________________________
Judith M. Rodrigue Joan M. Albi
CHIEF CLERK OF THE HOUSE SECRETARY OF
OF REPRESENTATIVES THE SENATE
APPROVED________________________________________
_________________________________________
Roy Romer
GOVERNOR OF THE STATE OF COLORADO