N.Y. Environmental Conservation Law § 23-2715: Financial security for reclamation

§ 23-2715. Financial security for reclamation.

1. Before the department may issue a permit, the applicant, unless

exempt, shall furnish financial security to ensure the performance of

reclamation as provided in the approved mined land-use plan and naming

the state as beneficiary. Financial security shall be in the form of a

bond from a corporate surety licensed to do business as such in the

state or any other form the department may deem acceptable. Any interest

accruing as a result of such security shall be the exclusive property of

the permittee.

2. The department shall determine the amount, condition, and terms of

the financial security. The amount shall be based upon the estimated

cost of reclaiming the affected land, which shall be based on

information contained in the permit application and upon such

information as an investigation by the department may disclose.

3. The financial security shall remain in full force and effect until

the department has approved the reclamation. At the discretion of the

department, the permittee may secure the release of that portion of the

financial security for affected land on which reclamation has been

completed and approved by the department.

4. If the financial security shall for any reason be cancelled, within

thirty days after receiving notice thereof, the permittee shall provide

a valid replacement under the same conditions as described in this

section. Failure to provide a replacement bond within such period may,

at the discretion of the commissioner, result in the immediate

suspension of the mining permit by the department.

5. If a permit is suspended or revoked, the department may require the

permittee to commence reclamation upon thirty days notice.

6. If the permittee fails to commence or to complete the reclamation

as required, the department may attach the financial security furnished

by the permittee. In any event, the full cost of completing reclamation

shall be the personal liability of the permittee and/or the person

engaged in mining and the department, acting by the attorney general,

may bring suit to recover all costs to secure the reclamation not

covered by the financial security. The materials, machinery, implements

and tools of every description which may be found at the mine, or other

assets of the permittee and/or the person engaged in mining shall be

subject to a lien of the department for the amount expended for

reclamation of affected lands and shall not be removed without the

written consent of the department. Such lien may be foreclosed by the

attorney general in the same manner as a mechanic's lien. Any and all

moneys recovered shall be deposited in the environmental regulatory

account pursuant to section 72-1009 of this chapter.

7. Political subdivisions, municipalities, the United States and any

of its agencies and agencies of the state shall be exempt from the

requirements of this section.