HF 560 — 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. (Formerly HSB 177.) Effective date: 07/01/2021.

KHouse iFile m560 R- eEnrolled yHouse nFile o560 lAN dACT sRELATING fTO fFINANCIAL iASSURANCE cINSTRUMENTS eAND oSURETY fBONDS tREQUIRED hFOR eCOLLECTING, GPROCESSING, oOR vTRANSPORTING eWASTE rTIRES, nAND oMAKING rPENALTIES AAPPLICABLE. d a m G r e g g G O V E R N O R L T G O V E R N O R March 22,2021 The Honorable Paul Pate Secretary'ofStateofIowa StateCapitol Des Moines,Iowa 50319 Dear Mr.Secretar)-, Iherebytransmit:

Houseile560,anAceaingtoiacilassuranceinstrumenue}-bondsrequiredBE foroletng,processing,ortransportrs,andmakinenliesapplicable.IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

The aboveSenateFileisherebyapplisdate.t Sincerelv, ICimReynolds' Governor of Iowa cc:

Secretan'of the Senate Clerk of the Flouse STATE CAPITODES MOINES, IOWA 515.281.5211 FAX 515WWW.GOVERNOR.IOWA.GOV WIU.MAINTAI ninnnis::!:":;

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y H o u s e F i l e 5 6 0 A N A C T R E L A T I N G T O F I N A N C I A L A S S U R A N C E I N S T R U M E N T S A N D S U R E T Y B O N D S R E Q U I R E D F O R C O L L E C T I N G , P R O C E S S I N G , O R T R A N S P O R T I N G W A S T E T I R E S , A N D M A K I N G P E N A L T I E S A P P L I C A B L E .

B E I T E N A C T E D B Y T H E G E N E R A L A S S E M B L Y O F T H E S T A T E O F I O W A :

Section 455D.11A, subsection 5, Code 2021, is aamended mto e n d e d t o read aas sfollows: f o l l o w s :

Financial aasurancQassurance shall be provided in the amounts as ffollows: o l l o w o ;

a-»—Fora. a waoto tiro collection or processing site/ the f i n a n c i a l a a a u r a n c o i n s t r u m e n t for a waato t i r o c o l l Q c t i o n House File 560, p.

2For sitea shallwaste provide coverage in an amount which io oquivalont to thirty-five cents per passenger tire oquivalontcollection colloctGdor byprocessing site, the site prior to July 1/ 1008.—The financial assurance instrument for a waste tiro procoooing site shall provide coverage in an amount which is equivalent to thirty-five cents per passenger tire equivalentcollection collectedHouse forFile processing560, byp. the site which is above the three-day processing supply of tires for the site as determined by the department.

^2 —site F o r a waste tire collection or processing site# the The f i n a n c i a l a s s u r a n c e i nw a s t e t i r e c o l l e c t i o n s i t e shall provide coverage in an amount which that is equivalent to eighty-fivethirty-five two dollars and fifty cents per passenger tire equivalent collected by the site onprior orto after July 1#1, 10Q8#1998. and t h e .T h e financial assurance instrument for a waste tire processing site shall provide coverage in an amount which that is equivalent to eighty-five two dollars and fifty cents per passenger tire equivalent collected for processing by the site which that is above the three-day processing supply of tires for the site as determined by the department.

The financial assurance instrument for a waste tire processing site shall provide coverage in an amount which is equivalent to thirty-five cents per passenger tire equivalent collected for processing by the site which is above the three-day processing supply of tires for the site as determined by the department.

b.

For a waste tire collection or processing site, the The financial assurance instrument for a waste tire collection site shall provide coverage in an amount which that is equivalent to eighty-five two dollars and fifty cents per passenger tire equivalent collected by the site on or after July 1, 1998, and the.

The financial assurance instrument for a waste tire processing site shall provide coverage in an amount which that is equivalent to eighty-five two dollars and fifty cents per passenger tire equivalent collected for processing by the site which that is above the three-day processing supply of tires for the site as determined by the department.

Section 455D.11I, subsection 6, Code 2021, is aamended mto eread nas dtfollows: or e aa s f o l l o w s :

The department shall require that a waste tire hauler have on file with the department before the issuance or renewal of a registration certificate, a surety bond executed by a surety company authorized to do business in this state in the sum of a minimum of teaten one hundred fifty thousand dollars, which bond shall be continuous in nature until canceled by the surety.

A surety shall provide at least thirty days'days’ notice in writing to the waste tire hauler and to the department indicating the surety'ssurety’s intent to cancel the bond and the effective date of the cancellation.

The surety bond shall be for the benefit oof f the citizens oof f this state and shall be conditioned upon the waste tire hauler'shauler’s willingness to comply with this section.

The surety'ssurety’s liability under this subsection is limited tto o the amount oof f the bond or the amount of the damages or moneys due, whichever is less.

3 bond shall be made in a form prescribed by the commissioner of insurance and written by a company authorized by the ccommissioner oof minsurance mto ido sbusiness s i o n e r o f i n s u r a n c e t o d o b u s i n e s s in tthis hstate. i s ^ s t a t e .

P______________________________ A______________________________ TPAT GRASSL'GRASSLEY JJAKE ACHAPMAN K E C H A P M A N Speaker of the House PPresident rof e s i d e n t o f the SSenate e n a t e I hereby certify that this bill originated in the House and is known as House File 560, Eighty-ninth General Assembly.

M______________________________ EMEGHAN GNELSON HChief AClerk Nof Nthe EHouse L S O N C h i e f C l e r k t h e H o u s e Approved 2.^_______________, ,2021 2______________________________ 0KIM 2REYNOLDS 1Governor K I M R E Y N O L D S G o v e r n o r