{"data":{"id":"us-ky/krs-350.515","jurisdiction":"us-ky","citation":"KRS 350.515","heading":"Mandatory participation in fund -- Initial capitalization -- One-time","body":"assessments -- Full-cost bond in lieu of participation.\n(1) Any permittee of a surface coal mining operation, as defined in KRS 350.010(1),\nlocated in Kentucky who meets the criteri a set forth in this section and in\nadministrative regulations promulgated by the cabinet, shall be a mandatory\nparticipant in the fund, except as provided in subsection (5) of this section.\n(2) The initial capitalization of the fund shall be accomplished in the following manner:\n(a) Transfer of the assets and liabilities of the voluntary bond pool fund to the\nKentucky reclamation guaranty fund upon March 22, 2013; and\n(b) On the date of the establishment of the fund, each entity holding a permit\nsubject to subsection (1) of this section shall be liable to the fund for the\nfollowing one (1) time assessments, which shall be payable to the fund within\nthirty (30) days' notice of the amounts thereof:\n1. A start -up assessment of one thousand five hundred dollars ($1,500);\nand\n2. An assessment of ten dollars ($10) per active permitted acre.\n(3) Members of the former voluntary bond pool as established prior to March 22, 2013,\nshall be exempt from the requirements of subsections (2)(b) and (4) of this section.\n(4) Entities entering the fund after the date of the establishment of the fund shall pay a\none (1) time assessment of ten thousand dollars ($10,000) to the fund. The cabinet\nshall not issue a permit to the entity until the one (1) time assessment is paid.\n(5) Member entities shall be given the option to provide full -cost bonds based on a\nreclamation cost estimate that reflects reclamation costs to the cabinet and certified\nby a registered professional engineer in lieu of participation in the fund. The\nestimate's calculations shall be equivalent to those set forth in the United States\nOffice of Surface Mining Reclamation and Enforcement's Handbook for the\nCalculation of Reclamation Bond Amounts, OSM Directive TSR -1, and calculated\non forms developed by the cabinet.  If an applicant opts out and elects to provide a\nfull-cost bond, the applicant shall not be subject to any fees or to any provisions of\nKRS 350.500 to 350.521.","path":["KRS Chapter 350"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41773","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:36Z","sha256":"2effe242aad27f37279339d082a6e7ce16f1a0c437471626d1c29874bbbd23b1","source_id":"us-ky","stale":false,"prev":"us-ky/krs-350.512","next":"us-ky/krs-350.518"},"notice":"GroundRules: Original legal text. Not legal advice."}