REMOVAL OF FUNDS FROM BOND POOL REQUIRES MINING PROGRAM AMENDMENT


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REMOVAL OF FUNDS FROM BOND POOL REQUIRES MINING PROGRAM AMENDMENT  Posted: July 19, 2003
When the 2003 General Assembly proposed to shift $3 million from the bond pool, a fund that provides bond coverage for small coal operator's reclamation liability, KRC became concerned that the legislature's removal of those supposedly-dedicated bond funds might result in the bond pool being unable to satisfy reclamation liabilities in the event of mine operator forfeitures. KRC requested that the federal Office of Surface Mining demand a state program amendment be submitted requesting federal approval for the shifting of those funds, and on April 10, 2003, OSM requested that Kentucky file the proposed change as a state program amendment. OSM has directed that the funds not be transferred unless approved after public comment and OSM review.
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