SF0056 • 2018

Real property as a collateral bond.

AN ACT relating to environmental quality; authorizing real property to qualify as a collateral bond for purposes of land quality permitting as specified; authorizing rulemaking; and providing for an effective date.

Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor: Senator Von Flatern
Last action: 2018-03-16
Official status: enrolled
Effective date: 7/1/2018

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2018-03-16 Governor
Governor Signed SEA No. 0054
2018-03-16 LSO
Assigned Chapter Number 102
2018-03-10 House
H Speaker Signed SEA No. 0054
2018-03-10 Senate
S President Signed SEA No. 0054
2018-03-09 LSO
Assigned Number SEA No. 0054
2018-03-09 House
H 3rd Reading:Passed 60-0-0-0-0
2018-03-08 House
H 2nd Reading:Passed
2018-03-07 House
H COW:Passed
2018-03-05 House
H Placed on General File
2018-03-05 House
H07 - Corporations:Recommend Do Pass 8-0-1-0-0
2018-02-27 House
H Introduced and Referred to H07 - Corporations
2018-02-23 House
H Received for Introduction
2018-02-23 Senate
S 3rd Reading:Passed 30-0-0-0-0
2018-02-22 Senate
S 2nd Reading:Passed
2018-02-21 Senate
S COW:Passed
2018-02-19 Senate
S Placed on General File
2018-02-19 Senate
S09 - Minerals:Recommend Do Pass 5-0-0-0-0
2018-02-13 Senate
S Introduced and Referred to S09 - Minerals 29-0-1-0-0
2018-02-09 Senate
S Received for Introduction
2018-01-25 LSO
Bill Number Assigned

Official Summary Text

Bill Summary

Bill No.:
SF0056
Effective
:
7/1/2018

LSO No.:
18LSO-0239

Enrolled Act No.:
SEA No. 0054

Chapter No.:
102

Prime Sponsor:
Von Flatern

Catch Title:
Real property as a collateral bond.

Subject:
Authorizes

rulemaking to allow
real property to qualify as a collateral bond for
surface coal mining and reclamation operations
.

Summary/Major Elements:

30 C
.
F
.
R
.
800.21(c) authorizes real property to qualify as a collateral bond for surface coal mining and reclamation operations
under state or federal regulatory programs in accordance with the Surface Mining Control and Reclamation Act.

This bill authorizes
the Environmental Quality Council to promulgate rules and regulations that are consistent with
30 C
.
F
.
R
.
800.21(c)
to
allow the Department of Environmental Quality's Land Quality Division Administrator to
accept real property as a collateral bond
.

Any rules allowing such bonds must require
the
property
to
be
located in
Wyoming
,

t
he bond
to
provide a perfected first lien security interest in the property in favor of the Department and the protection provided by the bond
to be
consistent with the objectives and purposes of the
Wyoming
Environmental Quality Act.
The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill
.

Current Bill Text

Read the full stored bill text

ORIGINAL
Senate
File No
.
SF0056

ENROLLED ACT NO. 54,

SENATE

SIXTY-FOURTH LEGISLATURE OF THE STATE OF WYOMING
2018 Budget Session

Be It Enacted by the Legislature of the State of Wyoming:

Section
1
.

W.S. 35
‑
11
‑
417
(b) and
by creating a new subsection (g) is amended to read:

35
‑
11
‑
417
.

Bonding provisions.

(b)

A
ll bonds shall be signed by the operator as principal, by a good and sufficient corporate surety licensed to do business in the state, and be made payable to the state of Wyoming. At the discretion of the director, the record mineral owner of the land to be mined may also be required to join as principal.

This subsection shall not apply to collateral bonds issued pursuant to subsection (g) of this section.

(g)

The council may
, consistent with the requirements of 30 CFR 800.21(c),
promulgate rules and regulations that allow the administrator to accept real property posted as a collateral bond
without separate surety
, provided that the real property
is located in
this state, the bond provides a perfected first lien security interest
in the real property
in favor of the department and the protection provided by the bond is consistent with the objectives and purposes of this act.

Section 2
.

This act is effective July 1, 201
8
.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the
Senate
.

Chief Clerk