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Indiana Code Title 14. Natural and Cultural Resources § 14-34-8-8

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 8. (a) When an operator furnishes a bond under section 5 of this chapter to participate in the bond pool, the operator shall pay a fee of twenty-five dollars ($25) per bonded acre into the bond pool.

(b) After the bond or other surety has been released under section 7 of this chapter, the operator shall annually pay ten dollars ($10) per acre on the areas affected to the bond pool until phase II bond release is approved.

(c) After revegetation is established, the operator shall pay to the bond pool fund the following:

(1) Five dollars ($5) per acre per year for the first three (3) years.

(2) Ten dollars ($10) per acre per year after the first three (3) years on the areas affected until phase III bond release is approved.

(d) All fees collected under this section shall be:

(1) deposited in the post-1977 abandoned mine reclamation fund established by IC 14-34-6-15;  and

(2) dedicated as collateral for the bond pool.

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Cite this article: FindLaw.com - Indiana Code Title 14. Natural and Cultural Resources § 14-34-8-8 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-14-natural-and-cultural-resources/in-code-sect-14-34-8-8/

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