2005 Idaho Code - 47-1803 — RECLAMATION FUND CREATED -- FINANCIAL ASSURANCE

                                  TITLE  47
                               MINES AND MINING
                                  CHAPTER 18
                             FINANCIAL ASSURANCE
    47-1803.  RECLAMATION FUND CREATED -- FINANCIAL ASSURANCE. (1) The state
treasurer shall be the custodian of an interest-bearing, dedicated fund known
as the "Reclamation Fund" which is hereby created. The reclamation fund shall
be funded by payments from applicable parties, interest and cost recoveries
initiated by the state board of land commissioners. All payments, interest and
cost recoveries shall be established by the state board of land commissioners.
    (2)  An operator's commitment to reclaim affected lands and operator's
payments to the reclamation fund shall be documented on a department of lands
form requiring that the operator shall faithfully perform the requirements of
the approved plan and comply with all administrative rules and policy
governing the operation.
    (3)  Moneys accruing to or received by the fund shall be expended by the
department of lands, after approval by the state board of land commissioners
and upon legislative appropriation, for reclamation of mines subject to the
provisions of this chapter. Moneys in excess of those needed for reclamation
liabilities shall be utilized, after approval of the state board of land
commissioners, for mine administration, abandoned mine land reclamation or
educational purposes. The state board of land commissioners shall adopt policy
to determine an appropriate minimum balance to be maintained in the
reclamation fund for reclamation liabilities.