summary
Introduced
01/12/2022
01/12/2022
In Committee
03/04/2022
03/04/2022
Crossed Over
01/26/2022
01/26/2022
Passed
03/12/2022
03/12/2022
Dead
Signed/Enacted/Adopted
04/20/2022
04/20/2022
Introduced Session
2022 Regular Session
Bill Summary
Creating Mining Mutual Insurance Company
AI Summary
This bill creates the Mining Mutual Insurance Company, a domestic, private, and non-stock mutual insurance company in West Virginia. The purpose of the company is to provide an affordable option for mining permit holders to obtain performance bond insurance, ensuring timely and predictable reclamation of mining sites if a permit holder fails to perform. The bill outlines the governance, management, and initial capital requirements for the company, including a $50 million loan from the Department of Environmental Protection to be used as the company's initial capital and surplus. The company is authorized to issue non-assessable performance bond policies, but participation is not compulsory for mining operators.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (9)
Craig Blair (R)*,
Stephen Baldwin (D),
Bill Hamilton (R),
Glenn Jeffries (R),
Richard Lindsay (D),
Bob Plymale (D),
Ron Stollings (D),
Tom Takubo (R),
Jack Woodrum (R),
Last Action
Chapter 157, Acts, Regular Session, 2022 (on 04/20/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://www.wvlegislature.gov/Bill_Status/Bills_history.cfm?input=1&year=2022&sessiontype=RS&btype=bill |
| BillText | http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=SB1%20ENR.htm&yr=2022&sesstype=RS&i=1 |
| SB1 HFA HANSEN 3-9 | http://www.wvlegislature.gov/legisdocs/chamber/2022/RS/floor_amends/SB1%20HFA%20HANSEN%203-9.htm |
| SB1 HFA SKAFF 3-9 | http://www.wvlegislature.gov/legisdocs/chamber/2022/RS/floor_amends/SB1%20HFA%20SKAFF%203-9.htm |
| SB1 H FIN AM _1 | http://www.wvlegislature.gov/legisdocs/chamber/2022/RS/com_amends/SB1%20H%20FIN%20AM%20_1.htm |
| Fiscal Note - Insurance Commission | http://www.wvlegislature.gov/Fiscalnotes/FN(2)/fnsubmit_recordview1.cfm?RecordID=832415140 |
| Fiscal Note - Environmental Protection, Department of | http://www.wvlegislature.gov/Fiscalnotes/FN(2)/fnsubmit_recordview1.cfm?RecordID=827502235 |
| BillText | http://www.wvlegislature.gov/Bill_Status/bills_text.cfm?billdoc=SB1%20INTR.htm&yr=2022&sesstype=RS&i=1 |
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