Section 22236 - CIWMB - Annual Inflation Factor. (T14:s18272) (California Code of Regulations)

§ 22236. CIWMB - Annual Inflation Factor. (T14:s18272)

The operator shall submit, by June 1 of each year, a report calculating the increase in the cost estimates for closure and/or postclosure maintenance and/or corrective action due to the inflation factor for the previous calendar year. The inflation factor is derived from the annual Implicit Price Deflator for Gross National Product as published annually by the U.S. Department of Commerce in its Survey of Current Business, which is incorporated by reference. The inflation factor is the result of dividing the latest annual published deflator by the deflator for the previous year. The operator shall increase the monetary amount of the financial mechanism required under this Chapter based upon this inflation factor. The mechanism may not be decreased other than as a result of the closure and/or postclosure maintenance and/or corrective action plan amendment process.

(1. New section filed 6-18-97; operative 7-18-97 (Register 97, No. 25).)

Note: Authority Cited: Section 40502, Public Resources Code. Reference: Sections 43103 and 43501, Public Resources Code.

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