(a) The Commission shall grant the renewal if it determines that:
(1) The site complies with the Act, the Commission's regulations, and orders applicable and in effect at the time the site permit was originally issued; and
(2) Any new requirements the Commission may wish to impose are:
(i) Necessary for adequate protection to public health and safety or common defense and security;
(ii) Necessary for compliance with the Commission's regulations, and orders applicable and in effect at the time the site permit was originally issued; or
(iii) A substantial increase in overall protection of the public health and safety or the common defense and security to be derived from the new requirements, and the direct and indirect costs of implementation of those requirements are justified in view of this increased protection.
(b) A denial of renewal for failure to comply with the provisions of Sec. 52.31(a) does not bar the permit holder or another applicant from filing a new application for the site which proposes changes to the site or the way that it is used to correct the deficiencies cited in the denial of the renewal.