February 26, 2018
By:
Walter G. Wright
Category:
Arkansas Environmental, Energy, and Water Law
Arkansas Environmental, Energy, and Water Law
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The Association of State and Territorial Solid Waste Management Officials (“ASTSWMO”) published a report titled:
Ability to Pay – Policy Template and Forms (January 2018) (“Report”)
The Report was prepared by the ASTSWMO State Fund – Financial Responsibility Task Force Tanks Subcommittee.
Issues addressed in the Report include:
- What is an ability to pay a settlement?
- Why is this policy being implemented?
- What type of environmental claims can be resolved by an ability to pay settlement?
- What type of environmental claims cannot be resolved by an ability to pay settlement?
- What does the liable person need to provide?
- How does the ability to pay process work?
- Responsibilities of the liable person
- Verification
- Balance Sheet Phase (Business and Individuals)
- Income and Cash Flow Statement Phase
- Use of computer models for penalty claims of less than $10,000
- Sharing the review
- Documentation of the decision
- Deviation from this policy
Two appendices are provided that address collection information for business and for wage earners and self-employed individuals, respectively.
A copy of the Report can be downloaded here.
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