HD109 - Report of the Joint Subcommittee to Examine the Financial Assurance Requirements for Solid Waste Management Facilities
Executive Summary: During the 1999 Session, the General Assembly passed House Joint Resolution No. 585 establishing a joint subcommittee to examine the financial assurance requirements for solid waste management facilities. The 11-member subcommittee was charged with evaluating the reliability of each of the various mechanisms that owners or operators of solid waste management facilities in Virginia may use to demonstrate financial assurance. Particular attention was to be paid to the use of "self assurance" mechanisms, including insurance coverage provided by pure captive companies and financial tests and corporate guarantees. The subcommittee was to make recommendations and provide options for regulatory or legislative actions that would improve the reliability of financial assurance mechanisms. |