Sec. 5. The amount of financial responsibility a person must establish under section 1 of this chapter for a transfer station must:
(1) be the greater of:
(A) four thousand dollars ($4,000) for each acre or part of an acre covered by the transfer station; or
(B) an amount determined by the commissioner that is sufficient to close the transfer station in a manner that:
(i) minimizes the need for further maintenance; and
(ii) provides reasonable, foreseeable, and necessary maintenance during postclosure; and
(2) provide assurance of proper postclosure maintenance for one (1) year after the transfer station has ceased operations.