(1) The cabinet may accept the mechanisms for financial assurance for closure, post- closure care, and corrective action for solid waste disposal facilities allowed under federal administrative regulations promulgated to implement Subtitle D of the Resource Conservation and Recovery Act, as amended.
(2) The cabinet shall promulgate administrative regulations to implement this section. However, the cabinet may accept the mechanisms allowed under subsection (1) of this section prior to the time its administrative regulations are promulgated.