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STATE OF OKLAHOMA
1st Session of the 59th Legislature (2023)
COMMITTEE SUBSTITUTE
FOR ENGROSSED
HOUSE BILL 2359 By: Boles of the House
and
Paxton of the Senate
COMMITTEE SUBSTITUTE
[ Corporation Commission - annual report - evidence
of financial security – penalty – codification -
effective date ]
BE IT ENACTED BY THE PE OPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 160.14A of Title 17, unless
there is created a duplication in numbering, reads as follows:
A. The owner of a renewable energy re cycling facility shall
submit an annual report to the Public Utility Division of the
Corporation Commission no later than February 1 of each calendar
year for the immediately preceding calendar year . The report shall
include a current total inventory of renewable energy components
accepted for recycling, but not y et recycled, as of the end of the
reporting period and an estimated timeline for the finality of
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recycling of those renewable energy components. The report shall
also include the estimated costs for completing the recycling of the
reported inventory within the estimated timeline . Provided, the
estimated costs associated wi th the recycling of wind turbine bla des
shall be reported independen tly from the aggregate cost estimate.
The report shall be submitted in the manner and form prescribed by
the Commission.
B. The owner of a renewable energy recycling facility shall
submit to the Public Utility Division of the Commission evidence of
financial security to cover the ant icipated costs of recycling the
reported inventory, including wind turbine blades, during the
upcoming calendar year. Evidence of financial security may be in
the form of a surety bond, collateral bond, parent guaranty, cash,
cashier’s check, certificate of deposit, bank joint custody receipt ,
or other approved negotiable instrument as established in rules
promulgated by the Corporation Commission. Evidence of financial
security shall be submitted within ninety (90) days of the renewable
energy recycling facility taking control o f any renewable energy
components to be recycled.
C. The amount of financial security shal l be one hundred
twenty-five percent (125%) of the estimated total cost of recycling
reported pursuant to subsection A of this section.
D. The Public Utility Div ision of the Commission shall post on
the website of the Commission a list of those renewable energy
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recycling facilities that have submitted the report and evidence of
financial security in accordance with the provisions of this
section. An owner of a wind farm operation that chooses to send
wind turbine blade renewable energy components to a third-party
recycling facility locat ed in this state shall utilize renewable
energy recycling facilities listed on the Commission website.
E. If the owner of a recycling facility fails to submit the
information required by this section, the owner shall be subject to
an administrative penalty not to exceed Five Hundred Dollars
($500.00) per day.
F. Each recycling facility shall submit an annual registration
fee of One Thousand Dollars ($1,000.00) per year to the Commi ssion
at the time of the annual report filing to cover the cost of
implementing the provisions of this section.
SECTION 2. This act shall become effective November 1, 2023.
59-1-2086 RD 4/13/2023 10:40:59 AM