LRB-0856/1
RCT:wlj:nwn
2007 - 2008 LEGISLATURE
April 13, 2007 - Introduced by Representatives Wieckert, Mursau, Townsend,
Musser, Owens, Gunderson and Albers, cosponsored by Senators Plale,
Roessler, Wirch and
Olsen. Referred to Committee on Natural Resources.
AB266,1,3
1An Act to create 289.41 (3) (a) 4m. of the statutes;
relating to: methods of
2establishing proof of financial responsibility for the closure and long-term care
3of a landfill.
Analysis by the Legislative Reference Bureau
Current law requires the owner of a landfill to maintain proof of financial
responsibility to ensure the availability of funds to cover the costs of closing the
landfill and maintaining the property after the landfill is closed. The Department
of Natural Resources (DNR) must approve the proof of financial responsibility.
Under current DNR rules, one method of providing proof of financial responsibility
is an irrevocable trust, which may include securities issued by the federal
government.
Under this bill, an irrevocable trust established by the owner of a landfill to
provide proof of financial responsibility may include securities issued by an
instrumentality of the federal government as well as securities issued by the federal
government.
For further information see the local fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
AB266, s. 1
1Section
1. 289.41 (3) (a) 4m. of the statutes is created to read:
AB266,2,42
289.41
(3) (a) 4m. An irrevocable trust, the corpus of which may include
3securities issued by the federal government or by a commission, board, agency, or
4other instrumentality of the federal government.
