1. (a) The Financial Assurance Amount shall be calculated as prescribed in Public Resources Code Section 2773.1 and based on:

   1. (1) an analysis of the physical activities and materials necessary to implement the approved reclamation plan;
   2. (2) the lead agency's unit costs, or costs for third party contracting, for each of these activities, if applicable;
   3. (3) the number of units of each of these activities, if applicable;
   4. (4) a contingency amount not to exceed 10% of the reclamation costs.
2. (b) The calculated amount should not include the cost of completing mining of the site.
3. (c) In order for the lead agency or the Division of Mine Reclamation to determine what annual adjustments, if any, are appropriate to the Financial Assurance Amount, the operator shall annually submit to the lead agency a revision of the written calculation required under Section 3804(a).

Note: Authority cited: Section 2773.1, Public Resources Code. Reference: Section 2773.1(e), Public Resources Code.

History

1. New section filed 2-23-94 as an emergency; operative 2-23-94 (Register 94, No. 8). A Certificate of Compliance must be transmitted to OAL by 6-23-94 or emergency language will be repealed by operation of law on the following day.

2. Certificate of Compliance as to 2-23-94 order transmitted to OAL 6-22-94 and filed 8-3-94 (Register 94, No. 31).

3. Change without regulatory effect amending subsection (c) filed 6-21-2024 pursuant to section 100, title 1, California Code of Regulations (Register 2024, No. 25).