HB4348 H ENG AM #1 1-21

Akers 3254

The Committee on Energy moves to amend the bill on page one, section one, line three, after the word “authorized” by striking out the remainder of the bill in its entirety and inserting in lieu thereof the following:

“with the amendments set forth below:

On page 183, subdivision 16.2.c.2, by striking subdivision 16.2.c.2 in its entirety and inserting in lieu thereof an amended subdivision 16.2.c.2 to read as follows:

“16.2.c.2. Either At the owner’s election, either correct material damage resulting from subsidence caused to any structures or facilities by compensating the owner in the amount of the cost to repair repairing the damage, but not to exceed the pre-mining value of the structure or facility, or compensate the owner of such structures or facilities in the full amount  of  the  diminution  in  value  resulting  from  the  subsidence.  Repair of damage includes rehabilitation, restoration, or replacement of damaged structures or facilities. Compensation may also be accomplished by the purchase prior to mining of a non-cancelable premium-prepaid insurance policy. The requirements of this paragraph only apply to subsidence related damage caused by underground mining activities conducted after October 24, 1992; Provided, however, That 16.2.c.2 does not create additional property rights nor may it be construed as vesting in the secretary the jurisdiction to adjudicate property rights disputes. and”

And,

On page 120, subdivision 11.3.a.3, by striking subdivision 11.3.a.3 in its entirety and inserting in lieu thereof an amended subdivision 11.3.a.3 to read as follows:

“11.3.a.3.  Any company that executes surety bonds in the State after July 1, 2001, must:  (i) be recognized by the treasurer to the state as holding a current certificate of authority from the United States Department of the Treasury as an acceptable surety on federal bonds by being included on the Treasury Department’s listing of approved sureties (Department Circular 570); or (ii)  submit proof to the Secretary that it holds a valid license issued by the West Virginia Insurance Commissioner, and agree to submit to the Secretary on at least a quarterly basis a certificate of good standing from the West Virginia Insurance Commissioner and such other evidence from the insurance regulator of its domiciliary state, if other than West Virginia, demonstrating that it is also in good standing in that state: Companies not included on the United States Treasury Department’s listing of approved sureties Provided, That those companies electing to execute bonds under (i) above in this subdivision must diligently pursue application for listing, submit evidence on a semi-annual basis demonstrating that they are pursuing such listing, and within four (4) years, obtain a certificate of authority from the United States Department of the Treasury as an acceptable surety on federal bonds.”

Adopted

Rejected