This bill strengthens environmental protections for coal mining operations by increasing the financial guarantees that mining companies must post before receiving permits. The legislation requires mining companies to set aside bonds sufficient to cover the full cost of reclamation if the government has to complete the work after a mine closes, with a minimum bond of $52,593 annually adjusted for inflation. Key changes include requiring regulators to account for inflation, unexpected mine closures, and potential water pollution when calculating bond amounts, and mandating that bonds be recalculated whenever permits are renewed, transferred to new operators, or significantly revised. The bill also holds current and former company owners liable for all reclamation costs if bonds prove insufficient. Within 90 days of enactment, the Interior Department must issue regulations establishing national guidelines for minimum bond amounts based on data from actual reclamation projects completed after bond forfeitures.
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