Kentucky Statutes 350.595 – Application for inclusion under Abandoned Mine Land Enhancement Program — Coverage under Kentucky reclamation guaranty fund
Current as of: 2024 | Check for updates
|
Other versions
(1) An applicant who desires to remine property which is classified as abandoned mine land under KRS § 350.560 may apply to the Reclamation Guaranty Fund Commission established in KRS § 350.506 for inclusion under the Abandoned Mine Land Enhancement Program. The commission may provide coverage under the Kentucky reclamation guaranty fund established pursuant to KRS § 350.503 not to exceed fifty percent (50%) of the bond amount which the cabinet determines under KRS
350.060 is necessary for the abandoned mine land.
(2) When the bond required for the abandoned mine land under KRS § 350.060 is increased or reduced, or is released in whole or in part, the coverage provided by the bond pool shall be proportionately increased or reduced.
(3) In the event of bond forfeiture on the property, moneys from the Kentucky reclamation guaranty fund shall be used to supplement the forfeited bond.
Effective: March 22, 2013
History: Amended 2013 Ky. Acts ch. 78, sec. 10, effective March 22, 2013. — Amended 1988 Ky. Acts ch. 397, sec. 1, effective July 15, 1988. — Created 1984 Ky. Acts ch. 282, sec. 1, effective July 13, 1984.
Legislative Research Commission Note (3/22/2013). References to “bond pool fund” in this statute as it appeared in 2013 Ky. Acts ch. 78, sec. 10, have been changed in codification to “Kentucky reclamation guaranty fund” since the statute establishing the bond pool fund (KRS § 350.700) was repealed in that Act and the Kentucky reclamation guaranty fund was established in Section 2 of that Act (KRS § 350.503) to replace the bond pool fund. The Reviser of Statutes has made the needed conforming changes in codification under the authority of KRS § 7.136(1).
350.060 is necessary for the abandoned mine land.
Terms Used In Kentucky Statutes 350.595
- applicant: means a person applying for a permit. See Kentucky Statutes 350.010
- Cabinet: means the Energy and Environment Cabinet. See Kentucky Statutes 350.010
- Reclamation: means the reconditioning of the area affected by surface coal mining operations under a plan approved by the cabinet. See Kentucky Statutes 350.010
- Statute: A law passed by a legislature.
(2) When the bond required for the abandoned mine land under KRS § 350.060 is increased or reduced, or is released in whole or in part, the coverage provided by the bond pool shall be proportionately increased or reduced.
(3) In the event of bond forfeiture on the property, moneys from the Kentucky reclamation guaranty fund shall be used to supplement the forfeited bond.
Effective: March 22, 2013
History: Amended 2013 Ky. Acts ch. 78, sec. 10, effective March 22, 2013. — Amended 1988 Ky. Acts ch. 397, sec. 1, effective July 15, 1988. — Created 1984 Ky. Acts ch. 282, sec. 1, effective July 13, 1984.
Legislative Research Commission Note (3/22/2013). References to “bond pool fund” in this statute as it appeared in 2013 Ky. Acts ch. 78, sec. 10, have been changed in codification to “Kentucky reclamation guaranty fund” since the statute establishing the bond pool fund (KRS § 350.700) was repealed in that Act and the Kentucky reclamation guaranty fund was established in Section 2 of that Act (KRS § 350.503) to replace the bond pool fund. The Reviser of Statutes has made the needed conforming changes in codification under the authority of KRS § 7.136(1).