Bill Text: IA HSB177 | 2021-2022 | 89th General Assembly | Introduced
Bill Title: A bill for an act relating to financial assurance instruments and surety bonds required for collecting, processing, or transporting waste tires, and making penalties applicable.(See HF 560.)
Spectrum: Committee Bill
Status: (Introduced - Dead) 2021-02-16 - Committee report approving bill, renumbered as HF 560. [HSB177 Detail]
Download: Iowa-2021-HSB177-Introduced.html
House
Study
Bill
177
-
Introduced
HOUSE
FILE
_____
BY
(PROPOSED
COMMITTEE
ON
NATURAL
RESOURCES
BILL
BY
CHAIRPERSON
BACON)
A
BILL
FOR
An
Act
relating
to
financial
assurance
instruments
and
surety
1
bonds
required
for
collecting,
processing,
or
transporting
2
waste
tires,
and
making
penalties
applicable.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
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Section
1.
Section
455D.11A,
subsection
5,
Code
2021,
is
1
amended
to
read
as
follows:
2
5.
Financial
assurance
shall
be
provided
in
the
amounts
as
3
follows:
4
a.
For
a
waste
tire
collection
or
processing
site,
the
5
financial
assurance
instrument
for
a
waste
tire
collection
6
site
shall
provide
coverage
in
an
amount
which
is
equivalent
7
to
thirty-five
cents
per
passenger
tire
equivalent
collected
8
by
the
site
prior
to
July
1,
1998.
The
financial
assurance
9
instrument
for
a
waste
tire
processing
site
shall
provide
10
coverage
in
an
amount
which
is
equivalent
to
thirty-five
cents
11
per
passenger
tire
equivalent
collected
for
processing
by
the
12
site
which
is
above
the
three-day
processing
supply
of
tires
13
for
the
site
as
determined
by
the
department.
14
b.
For
a
waste
tire
collection
or
processing
site,
the
The
15
financial
assurance
instrument
for
a
waste
tire
collection
site
16
shall
provide
coverage
in
an
amount
which
that
is
equivalent
17
to
eighty-five
two
dollars
and
fifty
cents
per
passenger
tire
18
equivalent
collected
by
the
site
on
or
after
July
1,
1998,
19
and
the
.
The
financial
assurance
instrument
for
a
waste
tire
20
processing
site
shall
provide
coverage
in
an
amount
which
that
21
is
equivalent
to
eighty-five
two
dollars
and
fifty
cents
per
22
passenger
tire
equivalent
collected
for
processing
by
the
site
23
which
that
is
above
the
three-day
processing
supply
of
tires
24
for
the
site
as
determined
by
the
department.
25
Sec.
2.
Section
455D.11I,
subsection
6,
Code
2021,
is
26
amended
to
read
as
follows:
27
6.
The
department
shall
require
that
a
waste
tire
hauler
28
have
on
file
with
the
department
before
the
issuance
or
renewal
29
of
a
registration
certificate,
a
surety
bond
executed
by
a
30
surety
company
authorized
to
do
business
in
this
state
in
the
31
sum
of
a
minimum
of
ten
two
hundred
fifty
thousand
dollars,
32
which
bond
shall
be
continuous
in
nature
until
canceled
by
the
33
surety.
A
surety
shall
provide
at
least
thirty
days’
notice
34
in
writing
to
the
waste
tire
hauler
and
to
the
department
35
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indicating
the
surety’s
intent
to
cancel
the
bond
and
the
1
effective
date
of
the
cancellation.
The
surety
bond
shall
2
be
for
the
benefit
of
the
citizens
of
this
state
and
shall
3
be
conditioned
upon
the
waste
tire
hauler’s
willingness
to
4
comply
with
this
section
.
The
surety’s
liability
under
this
5
subsection
is
limited
to
the
amount
of
the
bond
or
the
amount
6
of
the
damages
or
moneys
due,
whichever
is
less.
However,
this
7
subsection
does
not
limit
the
amount
of
damages
recoverable
8
from
a
waste
tire
hauler
to
the
amount
of
the
surety
bond.
The
9
bond
shall
be
made
in
a
form
prescribed
by
the
commissioner
10
of
insurance
and
written
by
a
company
authorized
by
the
11
commissioner
of
insurance
to
do
business
in
this
state.
12
EXPLANATION
13
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
14
the
explanation’s
substance
by
the
members
of
the
general
assembly.
15
This
bill
relates
to
financial
assurance
instruments
16
and
surety
bonds
required
for
collecting,
processing,
or
17
transporting
waste
tires.
18
Under
current
law,
an
owner
or
operator
of
a
waste
tire
19
collection
or
processing
site
is
required
to
obtain
a
permit
20
from
the
department
of
natural
resources
prior
to
operation
of
21
the
site
and
to
provide
to
the
department
prior
to
approval
22
or
renewal
of
a
permit
a
financial
assurance
instrument
that
23
provides
coverage
in
an
amount
that
is
equivalent
to
85
cents
24
per
passenger
tire
equivalent
collected
by
the
site.
The
bill
25
increases
the
amount
to
$2.50
per
passenger
tire
equivalent.
26
Current
law
requires
a
waste
tire
hauler
to
have
on
file
with
27
the
department
before
the
issuance
or
renewal
of
a
registration
28
certificate
a
surety
bond
of
at
least
$10,000.
The
bill
29
increases
the
minimum
required
amount
of
a
surety
bond
to
30
$250,000.
31
The
bill
also
removes
language
relating
to
financial
32
assurance
instruments
required
for
waste
tires
collected
by
a
33
waste
tire
collection
or
processing
site
prior
to
July
1,
1998.
34
A
violation
of
the
requirements
amended
by
the
bill
is
35
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