ORS 274.879
Financial assurance

  • plan for decommissioning

(1)

An owner or operator of an ocean renewable energy facility shall maintain cost estimates of the amount of financial assurance that is necessary, and demonstrate evidence of financial assurance, for:

(a)

The costs of closure and post-closure maintenance of the facility, excluding the costs of removing anchors, cables or any other equipment that is not required to be removed from beneath the submerged lands in Oregon’s territorial sea under subsection (8) of this section; and

(b)

Any corrective action required to be taken at the site of the facility.

(2)

The cost estimates required by subsection (1) of this section must be prepared by a person qualified by experience and knowledge to prepare such cost estimates.

(3)

The financial assurance requirements established by subsection (1) of this section may be satisfied by any one or a combination of the following:

(a)

Insurance;

(b)

Establishment of a trust fund;

(c)

A surety bond; or

(d)

A letter of credit.

(4)

In adopting rules under ORS 274.876 (Proprietary authorization requirements) to implement the provisions of this section, the Director of the Department of State Lands may specify policy or other contractual terms, conditions or defenses necessary to establish evidence of financial assurance.

(5)

Intentionally left blank —Ed.

(a)

Prior to the time that operation of an ocean renewable energy facility is authorized, the owner or operator of the facility must provide the director with a plan for decommissioning the facility after the permanent cessation of use of that facility for generating ocean renewable energy. The plan for decommissioning the facility must include, but need not be limited to:

(A)

Information regarding the anticipated useful life of the facility;

(B)

The cost estimates required by subsection (1) of this section;

(C)

The evidence of financial assurance required by subsections (1) and (3) of this section;

(D)

A description of the method and schedule for updating the costs of decommissioning the facility;

(E)

A description of the anticipated methods that will be used to close the facility, engage in post-closure maintenance and take any corrective action required at the site of the facility; and

(F)

Any other information required by the director by rule.

(b)

By January 31 of each subsequent calendar year, the owner or operator of the facility must update the information required under this subsection with the Department of State Lands.

(6)

An owner or operator shall provide evidence of financial assurance before beginning corrective action at the site of an ocean renewable energy facility.

(7)

An owner or operator shall establish provisions satisfactory to the director for disposing of any excess moneys received or interest earned on moneys received for financial assurance.

(8)

Intentionally left blank —Ed.

(a)

An owner or operator of an ocean renewable energy facility must initiate removal of all equipment related to that facility, excluding anchors, cables and any other equipment that lies at least one meter beneath submerged lands in Oregon’s territorial sea, within 12 months after the permanent cessation of use of that facility for generating ocean renewable energy.

(b)

Notwithstanding paragraph (a) of this subsection, an owner or operator of an ocean renewable energy facility may be required to remove anchors, cables or any other equipment that lies at least one meter beneath submerged lands in Oregon’s territorial sea if removal is deemed necessary by the director, in consultation with the owner or operator, and is permitted by the applicable requirements of federal regulatory agencies.

(c)

All equipment required to be removed under this subsection must be removed within two years after the permanent cessation of use of the facility for generating ocean renewable energy.

(d)

The director may extend the deadlines under this subsection if the owner or operator of the facility can show good cause and has undertaken a good faith effort to remove the equipment as required by this subsection. [Formerly 274.867]
Note: See note under 274.870 (Definitions for ORS 274.870 to 274.879).

Source: Section 274.879 — Financial assurance; plan for decommissioning, https://www.­oregonlegislature.­gov/bills_laws/ors/ors274.­html.

274.005
Definitions
274.015
Determination of ordinary high and low water
274.025
Jurisdiction over submersible and submerged lands generally
274.036
Status of channel of Willamette River
274.040
Sale or lease of submersible lands
274.043
Exemptions from leasing requirements
274.060
Regulation of harbor improvements
274.064
Portland Harbor Cleanup Fund
274.205
Definition for ORS 274.210 to 274.290
274.210
Authority of department to contract for drainage and reclamation of certain lands
274.220
Application for drainage and reclamation of lands
274.230
Investigation and report by Water Resources Director
274.240
Performance by contractor
274.250
Nonperformance
274.260
Title of riparian owners
274.280
Surveys and plans for reclamation of lands
274.290
Execution of plan
274.376
Definitions for ORS 274.376 to 274.388
274.379
Authority to seize abandoned structure or derelict structure
274.382
Liability for costs of removal, salvage, storage and disposal
274.385
Rules
274.388
Submerged Lands Enhancement Fund
274.400
Definition for ORS 274.400 to 274.412
274.402
Exclusive jurisdiction to assert title to submerged or submersible lands in navigable waterway
274.404
Administrative determination of navigable waterway
274.406
Declaration of state’s claim
274.408
Public notice of claim
274.412
Judicial review of declaration of state’s claim
274.425
Definition for ORS 274.430 to 274.520
274.430
State ownership of meandered lakes
274.440
Acquisition of future rights to meandered lakes denied
274.450
Acquisition of riparian rights by department
274.460
Settler’s and riparian owner’s preferential right to purchase land within meander lines
274.470
Settler’s right to deed to land within meander lines
274.480
Rights of riparian owners on Malheur and Mud Lakes
274.490
Settlement of conflicting preferential rights
274.500
Conveyance of compact area
274.510
Lake bed lands claimed by the United States
274.520
Acceptance of deed to lake bed lands as precluding any other claim
274.525
City use of stream bed material
274.530
Lease or license of stream beds for removal of material
274.550
Removal of material without payment of royalties
274.560
Lease terms
274.590
Cooperation with Washington authorities respecting removal of material from bed of Columbia River
274.610
Prohibited contracts for exploration for hard minerals
274.705
Definitions for ORS 274.705 to 274.860
274.710
Jurisdiction of department over tidal submerged lands
274.712
Limitations on leasing submerged and submersible lands within territorial sea
274.714
Undersea cables within territorial sea
274.715
Sulfur leases
274.720
Effect of ORS 274.705 to 274.860 on power to make other leases and on jurisdiction of agencies other than department
274.725
Scope of leases and permits
274.735
Application for survey permit
274.740
Issuance of survey permit
274.745
Drilling logs and records
274.755
Hearing prior to granting lease or easement
274.760
Considerations involved in granting lease or easement
274.765
Publishing offer to lease tidal submerged lands
274.770
Prohibited drilling requirements
274.780
Conditions in leases and permits
274.785
Exclusive rights granted by lease
274.790
Royalties
274.795
Rents
274.800
Bonds
274.805
Drill sites
274.810
Commencement of drilling
274.815
Extension of time when wells to be drilled from filled land or structure
274.820
Water contamination or pollution
274.825
Nonconflicting use of leased lands
274.830
Protecting lands from drainage
274.835
Conformance to laws and regulations
274.840
Continuation of lease after cessation of production
274.845
Surrender of lease
274.850
Cancellation of lease
274.855
Restoration of leasehold to original condition
274.860
Protection and location of filled lands
274.870
Definitions for ORS 274.870 to 274.879
274.873
Proprietary authorizations for ocean renewable energy facilities
274.876
Proprietary authorization requirements
274.879
Financial assurance
274.885
Lease of kelp fields
274.890
Time allowed lessee for survey and erection of plant
274.895
Removing kelp without lease
274.905
Definitions for ORS 274.905 to 274.940
274.910
Application and effect
274.915
Lease or disposal of new lands
274.920
Creation of new lands upon submersible or submerged lands
274.925
Right of public riparian owner to purchase new lands
274.929
Right of nonpublic riparian owner to purchase certain new lands
274.932
Right of public body to purchase new lands created by it
274.935
Ownership, by nonpublic owner of submersible or submerged lands, of new lands created thereon
274.937
Right of individual to purchase new lands created by individual
274.940
Reservation of historically filled lands or new lands
274.945
Collection of shellfish mariculture records
274.950
Jurisdiction to assert title to historically filled lands
274.952
Determination of state interest in historically filled lands
274.954
Declaration of state’s claim
274.956
Public notice of claim
274.992
Civil penalties
274.994
Amount of civil penalties
Green check means up to date. Up to date