| Notice Filed with SOS |
04/14/2014 |
| Rule |
ProposedRuleAttach2014-00292.RTF |
| Statutory Authority |
§§ 25-15-302(2) |
| Description of Subjects/Issues |
Amendment of 6 CCR 1007-3, Part 266 Financial Requirements |
| Purpose/Objective of Rule |
The purpose of these amendments to 6 CCR 1007-3, Part 266 are to eliminate the financial test and corporate guarantee in § 266.14(i) and § 266.16(f) and (g); and to strengthen the requirements for insurance and captive insurance companies in § 266.14(h) and § 266.16(h). |
| Comments |
These amendments to 6 CCR 1007-3, Part 266 are a result of, and respond to, concerns of the Department after many years of program implementation and vulnerabilities in the existing regulations that have been exposed by a) research done by EPA’s Environmental Financial Advisory Board (“EFAB”) and b) effects of the recent economic recession. These amendments to 6 CCR 1007-3, Part 266 include the elimination of the financial test and corporate guarantee in § 266.14(i) and § 266.16(f) and (g), and strengthening the requirements for insurance and captive insurance companies in § 266.14(h) and § 266.16(h). |
| Submitted in response to issues raised by COLS/OLLS? |
No
|
| Is this rule adopted in response to recent legislation? |
No
|
| Hearing Date |
05/20/2014 |
| Hearing Time |
09:30 AM |
| Hearing Location |
CDPHE-Bldg A - Sabin Conference Rm., 4300 Cherry Creek Dr South, Denver, CO 80246 |
| Contact Name |
Brandy Valdez Murphy |
| Contact Title |
Environmental Programs Assistant |
| Contact Telephone |
303-692-3467 |
| Contact email |
brandy.valdezmurphy@state.co.us |