| 1 | Representative Stansel offered the following: |
| 2 |
|
| 3 | Amendment (with title amendment) |
| 4 | On page 4, between lines 25 and 26, insert: |
| 5 | Section 1. Subsection (19) is added to section 373.414, |
| 6 | Florida Statutes, to read: |
| 7 | 373.414 Additional criteria for activities in surface |
| 8 | waters and wetlands.-- |
| 9 | (19)(a) Financial responsibility for mitigation for |
| 10 | wetlands and other surface waters required by a permit issued |
| 11 | pursuant to this part for activities associated with the |
| 12 | extraction of phosphate are subject to approval by the |
| 13 | department as part of the permit application review. Financial |
| 14 | responsibility for permitted activities which will occur over a |
| 15 | period of 3 years or less of mining operations must be provided |
| 16 | to the department prior to the commencement of mining operations |
| 17 | and shall be in an amount equal to 110 percent of the estimated |
| 18 | mitigation costs for wetlands and other surface waters affected |
| 19 | under the permit. For permitted activities which will occur over |
| 20 | a period of more than 3 years of mining operations, the initial |
| 21 | financial responsibility demonstration shall be in an amount |
| 22 | equal to 110 percent of the estimated mitigation costs for |
| 23 | wetlands and other surface waters affected in the first 3 years |
| 24 | of operation under the permit; each year thereafter, the |
| 25 | financial responsibility demonstration shall be updated, |
| 26 | including to provide an amount equal to 110 percent of the |
| 27 | estimated mitigation costs for the next year of operations under |
| 28 | the permit for which financial responsibility has not already |
| 29 | been demonstrated and to release portions of the financial |
| 30 | responsibility mechanisms in accordance with applicable rules. |
| 31 | (b) The mechanisms for providing financial responsibility |
| 32 | pursuant to the permit shall, at the discretion of the |
| 33 | applicant, include the following: |
| 34 | 1. Cash or cash equivalent deposited in an escrow account. |
| 35 | 2. Irrevocable letter of credit. |
| 36 | 3. Performance bond. |
| 37 | 4. Trust fund agreement. |
| 38 | 5. Guarantee bond. |
| 39 | 6. Insurance certificate. |
| 40 | 7. A demonstration that the applicant meets the financial |
| 41 | test and corporate guarantee requirements set forth in 40 C.F.R. |
| 42 | s. 264.143(f). |
| 43 | 8. A demonstration that the applicant meets the self- |
| 44 | bonding provision set forth in 30 C.F.R. s. 800.23. |
| 45 |
|
| 46 | The form and content of all financial responsibility mechanisms |
| 47 | shall be approved by the department. When utilizing an |
| 48 | irrevocable letter of credit, performance bond, or guarantee |
| 49 | bond, all payments made thereunder shall be deposited into a |
| 50 | stand-by trust fund established contemporaneously with the |
| 51 | posting of the financial assurance instrument. All trust fund |
| 52 | agreements and stand-by trust fund agreements shall provide that |
| 53 | distributions therefrom will be made only at the request of the |
| 54 | department and that the trustees of such funds shall be either |
| 55 | national or state chartered banking institutions or state- |
| 56 | regulated trust companies. |
| 57 | (c) The provisions of this subsection shall not apply to |
| 58 | any wetlands mitigation that is required pursuant to a permit or |
| 59 | permits initially issued by the department or district prior to |
| 60 | January 1, 2005. |
| 61 | (d) Nothing provided herein supersedes or modifies the |
| 62 | financial responsibility requirements of s. 378.209. |
| 63 | Section 2. Subsection (4) of section 10 of chapter 2003- |
| 64 | 423, Laws of Florida, is amended to read: |
| 65 | Section 10. |
| 66 | (4) The resource management plan shall be submitted to the |
| 67 | Governor, the President of the Senate, and the Speaker of the |
| 68 | House of Representatives no later than January 31, 2007 July 1, |
| 69 | 2005. |
| 70 |
|
| 71 | ================= T I T L E A M E N D M E N T ================= |
| 72 | On page 1, line 23, remove said line and insert: |
| 73 | conforming a cross-reference; amending s. 373.414 F.S.; |
| 74 | providing for submission of financial responsibility prior |
| 75 | to the commencement of mining operations; providing for |
| 76 | review of financial responsibility; providing mechanisms |
| 77 | for providing financial responsibility; providing |
| 78 | exclusions; clarifying intent; amending s. 10, ch. 2003- |
| 79 | 423, Laws of Florida; extending the due date of the Peace |
| 80 | River Basin resource management plan; providing an |