Section PS 3260 – Liability for Contaminated Sites

January 01, 2021

Section PS 3260 does not apply to:

  • Costs for acquisition or betterment of Tangible Capital Assets, to the extent that such costs do not exceed the future economic benefits related to the asset or post-remediation fair value of the asset if held for sale (e.g. redevelopment of a contaminated site for use or sale);
  • Liabilities associated with the retirement of a long-lived tangible capital asset in productive use that result from its acquisition, construction or development and ongoing use (e.g. operating a nuclear facility);
  • Liabilities associated with the disposal or sale of long-lived tangible capital assets (e.g. privatization of water utility); and
  • Liabilities for closure and post-closure care of a solid waste landfill site when the site or a phase stops accepting waste as this is specifically dealt with under Section PS 3270, Solid Waste Landfill Closure and Post-Closure Liability.

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