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350.595 Application for inclusion under Abandoned Mine Land Enhancement
Program -- Coverage under Kentucky reclamation guaranty fund.
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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.
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.
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statute establishing the bond pool fund (KRS 350.700) was repealed in that Act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).
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