Sec. 15. (a) As used in this section, “fund” refers to the post-1977 abandoned mine reclamation fund established by this section.

     (b) The post-1977 abandoned mine reclamation fund is established. The fund consists of bond forfeiture money collected under section 16 of this chapter and the civil penalties described in IC 14-34-16-9. Unless the prior approval of the general assembly is given for another use, the fund may be used only as follows:

(1) To effect the restoration of land:

(A) that is not otherwise eligible for restoration through federal funding; and

(B) that has been affected by surface coal mining operations that occurred after August 3, 1977.

(2) To replace domestic water supplies disrupted or affected by a surface coal mining and reclamation operation, including the disposal of coal combustion waste, where the surface coal mining and reclamation operation has been completed and is no longer subject to IC 14-34.

     (c) At least five hundred thousand dollars ($500,000) in the fund is dedicated as collateral for the bond pool under IC 14-34-8 and may not be used for the restoration of land or replacement of water described in subsection (b).

     (d) The treasurer of state shall invest the money in the fund not currently needed to meet the obligations of the fund in the same manner as other public money may be invested. Interest that accrues from these investments shall be deposited in the fund.

     (e) Money in the fund at the end of a state fiscal year does not revert to the state general fund.

[Pre-1995 Recodification Citation: 13-4.1-6-8.]

As added by P.L.1-1995, SEC.27. Amended by P.L.63-1999, SEC.1; P.L.101-2016, SEC.1; P.L.9-2022, SEC.20.