SSB 1161

This bill relates to financial assurance instruments and surety bonds required for collecting, processing, or transporting waste tires. Under current law, an owner or operator of a waste tire collection or processing site is required to obtain a permit from the department of natural resources prior to operation of the site and to provide to the department prior to approval or renewal of a permit a financial assurance instrument that provides coverage in an amount that is equivalent to cents per passenger tire equivalent collected by the site. 50 per passenger tire equivalent. Current law requires a waste tire hauler to have on file with the department before the issuance or renewal of a registration certificate a surety bond of at least $10,000. The bill increases the minimum required amount of a surety bond to $250,000. The bill also removes language relating to financial assurance instruments required for waste tires collected by a waste tire collection or processing site prior to July 1, 1998. _____ punishable by a civil penalty not to exceed $10,000 per day of the violation.