W.Va. Lawmakers Eye Possible Insurance Program to Cover Abandoned Coal Mine Cleanup
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West Virginia lawmakers are thinking about creating an insurance program to cover the costs of cleaning up abandoned coal mines.
Senate Bill 1 establishes a new private company that would issue performance bonds to help West Virginia’s coal companies pay for reclamation.
Senate President Craig Blair said Wednesday that creating the company would help protect West Virginia by acting as “an insurance policy on our mining industry.”
The legislation suggests that the state provide an initial $50 million non-interest-bearing loan to the company to get started. The bill will now move on to the state’s House of Delegates for consideration.
Source: Associated Press
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