Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. SB 486
Barcode 362882
CHAMBER ACTION
Senate House
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11 The Committee on Environmental Preservation (Alexander)
12 recommended the following amendment:
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14 Senate Amendment (with title amendment)
15 On page 9, between lines 14 and 15,
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18 Section 2. Subsection (19) is added to section
19 373.414, Florida Statutes, to read:
20 373.414 Additional criteria for activities in surface
21 waters and wetlands.--
22 (19)(a) Financial responsibility for wetlands
23 mitigation required by a permit issued pursuant to part IV for
24 phosphate mining operations shall be provided and must be
25 approved by the department prior to the initiation of mining
26 operations under the permit occurring. For permitted
27 activities occurring over a period of three years or more of
28 mining operations, the financial responsibility demonstration
29 shall be in an amount equal to 110 percent of the estimated
30 mitigation costs for wetlands affected in the first year of
31 operation under the permit, and shall be updated annually to
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12:56 PM 04/04/05 s0486.ep17.001
Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. SB 486
Barcode 362882
1 provide an amount equal to 110 percent of the estimated
2 mitigation costs for the next year of operations under the
3 permit.
4 (b) The mechanisms for providing financial
5 responsibility pursuant to the permit shall, at the discretion
6 of the applicant, include the following:
7 1. Cash or cash equivalent deposited in an escrow
8 account.
9 2. Irrevocable letter of credit.
10 3. Performance bond.
11 4. Trust fund agreement.
12 5. Guarantee bond.
13 6. Insurance certificate.
14 7. A demonstration that the applicant meets the
15 financial test and corporate guarantee requirements set forth
16 in 40 CFR s. 264.143(f).
17 8. A demonstration that the applicant meets the self
18 bonding provision set forth in 30 CFR s. 800.23.
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20 The financial responsibility mechanism for the permit must be
21 approved by the department during the permitting process.
22 (c) Financial responsibility amounts shall be adjusted
23 annually to include estimated mitigation costs for wetlands
24 areas to be disturbed in the following year under the permit
25 and to release portions of the financial responsibility
26 mechanism in accordance with applicable rules.
27 (d) The provisions of this subsection shall not apply
28 to any wetlands mitigation that is required pursuant to a
29 permit or permits issued by the department or district prior
30 to January 1, 2005.
31 (e) Nothing provided herein supersedes or modifies the
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Florida Senate - 2005 COMMITTEE AMENDMENT
Bill No. SB 486
Barcode 362882
1 financial responsibility requirements of s. 378.209.
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5 And the title is amended as follows:
6 On page 1, line 8, after the semicolon
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8 insert:
9 requiring financial responsibility for wetlands
10 mitigation; specifying the financial
11 responsibility demonstration for permitted
12 activities occurring over a period of 3 years
13 or more of mining activities;
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