Bill > HB157

This bill creates the Mining Act Forfeiture Fund within the state treasury. The fund will hold money received from the forfeiture of financial assurance required under the New Mexico Mining Act. The money in the fund will be used to complete approved reclamation projects or closeout plans on areas where the financial assurance has been forfeited, in order to mitigate endangerment to life, property, or public health and safety. The bill also specifies that any remaining funds after a project is completed will be returned to the appropriate person, and that funds held in a trust approved by the director do not need to be forfeited. The effective date of the provisions in the bill is July 1, 2021.

Agriculture and Natural Resources, Budget and Finance, Government Affairs

https://www.nmlegis.gov/lcs/legislation.aspx?chamber=H&legtype=B&legno=157&year=21