Bond Improvement and Reclamation Assurance Act

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Legislation Details

Amends the Surface Mining Control and Reclamation Act of 1977 to establish additional considerations for the adequacy of permit performance bonds.
Introduces the “Bond Improvement and Reclamation Assurance Act.”
Requires permit applicants to file a performance bond before a permit is issued, covering the area where surface coal mining and reclamation operations will occur.
The bond amount is determined by the regulatory authority and must reflect the probable difficulty of reclamation, ensuring completion of the reclamation plan if performed by the regulatory authority.
The bond amount must consider inflation, the impact of unplanned or early mine closure, and additional costs likely incurred by the regulatory authority in the event of bond forfeiture.
The minimum bond amount for the entire area under one permit cannot be less than $52,593, adjusted annually for inflation.
The regulatory authority must adjust the bond amount and terms as affected land acreages change, the cost of future reclamation changes, a permit is renewed, or a permit is transferred.
Before approving a permit transfer, assignment, or sale, the regulatory authority must recalculate the bond amount required and ensure the new party posts such amount.
Permittees and certain associated persons are jointly and severally liable for all reclamation costs, including postmining water pollution treatment.
Inspectors must inform the regulatory authority of any changes that may increase the cost of reclamation, potentially necessitating a bond amount adjustment.
The Secretary of the Interior is tasked with issuing regulations within 90 days to establish guidelines and benchmarks for determining minimum bond amounts, using data from recent reclamation projects completed due to bond forfeiture.

Amends the Surface Mining Control and Reclamation Act of 1977 to establish additional considerations for the adequacy of permit performance bonds.
Introduces the “Bond Improvement and Reclamation Assurance Act.”
Requires permit applicants to file a performance bond before a permit is issued, covering the area where surface coal mining and reclamation operations will occur.
The bond amount is determined by the regulatory authority and must reflect the probable difficulty of reclamation, ensuring completion of the reclamation plan if performed by the regulatory authority.
The bond amount must consider inflation, the impact of unplanned or early mine closure, and additional costs likely incurred by the regulatory authority in the event of bond forfeiture.
The minimum bond amount for the entire area under one permit cannot be less than $52,593, adjusted annually for inflation.
The regulatory authority must adjust the bond amount and terms as affected land acreages change, the cost of future reclamation changes, a permit is renewed, or a permit is transferred.
Before approving a permit transfer, assignment, or sale, the regulatory authority must recalculate the bond amount required and ensure the new party posts such amount.
Permittees and certain associated persons are jointly and severally liable for all reclamation costs, including postmining water pollution treatment.
Inspectors must inform the regulatory authority of any changes that may increase the cost of reclamation, potentially necessitating a bond amount adjustment.
The Secretary of the Interior is tasked with issuing regulations within 90 days to establish guidelines and benchmarks for determining minimum bond amounts, using data from recent reclamation projects completed due to bond forfeiture.

Bond Improvement and Reclamation Assurance Act

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