30-695 - Arizona Statutes

30-695. Deposits in radiation regulatory and perpetual care fund; reimbursements A. If there is a possibility that any licensed activity will result in radioactive waste materials which will require maintenance, surveillance or other care on a continuing or perpetual basis after termination of the licensed activity or will require decommissioning activity, the agency may require the licensee of such activity to pay annually to the agency, for deposit in the radiation and perpetual care fund, an amount equal to the sum of: 1. The net worth of the fund required to produce investment earnings sufficient to pay the cost of maintenance and surveillance of the lands, buildings, grounds and radioactive waste materials to be conveyed to the state pursuant to section 30-692, less the net worth of all payments previously made by the licensee to the agency for such purposes, divided by the number of years the licensed activity is reasonably expected to continue. 2. With respect to a waste disposal activity, the cost of any decommissioning activity, estimated as of December 31 of the year preceding each annual payment, less the total of all payments previously made to the agency by the licensee for the decommissioning activity, divided by the number of years the licensed activity is reasonably expected to continue. B. Any estimates of costs or activities required to be made pursuant to this section shall be subject to changes and review by the agency according to the need, nature and cost of any decommissioning activity and the maintenance and surveillance of radioactive waste materials required for public health and safety. Any charges imposed for maintenance and perpetual care shall be established at the lowest level consistent with existing technology. Any change that results in any increase in such costs shall not be applied retroactively, but such changes may result in increases in subsequent annual payments. With respect to uranium milling or processing operations, total cumulative charges shall not exceed a maximum charge of five cents per ton of ore or material milled or processed. C. In computing the net worth of any fund or payments for the purpose of this section or section 30-693 the interest rate shall be equal to the average annual rate of investment earnings, including investment appreciation, of the state retirement system over the five years preceding any net worth determination and the term shall be the number of years the licensed activity is expected to continue after such determination. D. At such time as any licensee has satisfied all or part of its obligations under section 30-693, subsection A, the agency shall promptly refund to such licensee from the radiation regulatory and perpetual care fund any excess of the amount of paragraph 1 of this subsection over the amount of paragraph 2 of this subsection: 1. The sum of subdivisions (a) and (b) of this paragraph: (a) All payments made by the licensee to the agency pursuant to this article. (b) All investment earnings on such payments. 2. The amount then determined to be required for the continuing maintenance and surveillance of the lands, buildings and grounds and radioactive waste materials conveyed to the state pursuant to section 30-692.