Steel Industry Corrective Action Policy Amendments of 1991

Steel Industry Corrective Action Policy Amendments of 1991 - Amends the Solid Waste Disposal Act, with respect to the standards applicable for cleanup of hazardous waste at certain steel manufacturing facilities, to require that groundwater correction measure standards be met at the facility's property boundary (rather than at the boundary of each individual solid waste management unit). Provides for groundwater monitoring at facility boundaries and other locations. Requires the establishment by facility owners or operators of a fund to provide financial responsibility for monitoring and corrective measures for 30 years following cessation of operations.

Requires assurance of financial responsibility by such facilities for completing corrective action in the amount required to complete the selected remedy. Authorizes financial responsibility to be established by any combination of insurance, guarantee, surety bond, letter of credit, trust agreement, qualification as a self-insurer, or other method provided under the Solid Waste Disposal Act.

Establishes eligibility requirements for self-insurers, including compliance with a specified financial tests.

Provides that facilities shall not be required to provide independent assurance of financial responsibility for closure and post-closure care for the same facility, regulated unit, or solid waste management unit.

Permits financial responsibility assurances for less than the full amount of corrective action costs by facilities that cannot comply with financial tests required for self-insurers. Phases in the remaining amounts to be committed in subsequent years.