The Department shall adopt regulations governing financial assurance for sanitary landfills that accept municipal solid waste. For municipal solid waste landfills, the regulations shall be consistent with and may not exceed the requirements of federal regulations governing financial assurance (40 C.F.R. § 258.70 through 258.74). A regulation adopted under this section which is applicable to municipal solid waste landfills may not take effect until after the effective date of federal regulations governing financial assurance adopted pursuant to 40 C.F.R. § 258.70 through 258.74 and shall cease to be effective whenever those federal regulations are suspended or repealed. Before the Secretary issues a permit for a sanitary landfill, the applicant for the permit shall provide proof of financial assurance in accordance with the regulations adopted by the Department under this section. Until the regulations adopted by the Department under subsection (a) of this section are effective, or if those regulations cease to be effective, sanitary landfills that accept municipal solid waste shall comply with the requirements of § 9-211 of this subtitle.