The department may waive the requirement that a remedial action plan meet the requirements specified in Section 79205 if all of the following apply:
(a) The responsible party adequately characterizes the hazardous substance conditions at a site listed pursuant to Article 5 (commencing with Section 78760) of Chapter 4.
(b) The responsible party submits to the department, in a form acceptable to the department, all of the following:
(1) A description of the techniques and methods to be employed in excavating, storing, handling, transporting, treating, and disposing of materials from the site.
(2) A listing of the alternative remedial measures that were considered by the responsible party in selecting the proposed removal action.
(3) A description of methods that will be employed during the removal action to ensure the health and safety of workers and the public during the removal action.
(4) A description of prior removal actions with similar hazardous substances and with similar public safety and environmental considerations.
(c) The department determines that the remedial action plan provides protection of human health and safety and for the environment at least equivalent to that which would be provided by a remedial action plan prepared in accordance with Section 79205.
(d) The total cost of the removal action is less than two million dollars ($2,000,000).