§ 15-517. Bond supplement reserve
West's Annotated Code of MarylandEnvironment
MD Code, Environment, § 15-517
§ 15-517. Bond supplement reserve
(a) The Secretary shall establish within the Bituminous Coal Open-Pit Mining Reclamation Fund a bond supplement reserve to be used if funds received from the forfeiture of bonds under § 15-514 of this subtitle are not sufficient:
(b) The Secretary shall deposit to the credit of the bond supplement reserve the following funds:
(c) When the amount of money in the bond supplement reserve equals or exceeds $750,000 at the end of the month, deposits into the reserve of the amounts provided in subsection (b)(1) and (2) of this section shall end temporarily.
(d) The assessment under § 15-509(d) of this subtitle shall end temporarily for any month when:
(e) At the end of any month when the amount of money in the bond supplement reserve is reduced below $500,000:
(f) The Secretary shall notify each county when remitting or suspending the remittance of the amount under § 15-509(b)(2) of this subtitle.
(g) The Secretary shall meet and confer with the Land Reclamation Committee at least 30 days before procuring any services for which funds from the bond supplement reserve will be used, and shall provide the Committee an opportunity to submit comments and recommendations about the proposed expenditure.
Credits
Added by Acts 1989, c. 531, §§ 1, 2. Amended by Acts 1990, c. 6, § 2; Acts 1991, c. 55, § 1. Renumbered from Natural Resources § 7-514.2 by Acts 1995, c. 488, § 2, eff. July 1, 1995. Amended by Acts 1995, c. 488, § 16, eff. July 1, 1995; Acts 2005, c. 186, § 1, eff. Oct. 1, 2005.
MD Code, Environment, § 15-517, MD ENVIR § 15-517
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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