H.R.5500 - Coal Cleanup Taxpayer Protection Act114th Congress (2015-2016)
|Sponsor:||Rep. Cartwright, Matt [D-PA-17] (Introduced 06/16/2016)|
|Committees:||House - Natural Resources|
|Latest Action:||House - 06/23/2016 Referred to the Subcommittee on Energy and Mineral Resources. (All Actions)|
This bill has the status Introduced
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Summary: H.R.5500 — 114th Congress (2015-2016)All Information (Except Text)
Introduced in House (06/16/2016)
Coal Cleanup Taxpayer Protection Act
This bill amends the Surface Mining Control and Reclamation Act to prohibit the Office of Surface Mining and Reclamation Enforcement (OSMRE) and state regulatory authorities from accepting new self-bonds for coal reclamation. Additionally, any existing self-bonds or corporate bonds utilized for coal reclamation must be converted to surety or collateral bonds.
The OSMRE may approve state or federal alternative coal mining bond programs that result in no greater risk of financial liability to the federal government than a surety or collateral bond program.
The bill also requires the OSMRE to issue rules establishing limitations on surety bonds to minimize the financial liability to the federal or state government.