HB0041

Clarifies that irrevocable letters of credit for environmental quality bonding may be issued by banks or credit unions insured by federal agencies, and establishes rulemaking authority for implementation.

• For coal mining operations, allows operators to deposit irrevocable letters of credit issued by banks organized to do business in the United States in lieu of bonds with the Department of Environmental Quality. (W.S. 35-11-418(a))
• For noncoal mining operations on non-federal land, allows operators to deposit irrevocable letters of credit issued by banks or credit unions organized to do business in the United States in lieu of bonds. (W.S. 35-11-418(b))
• Requires irrevocable letters of credit under mining operations to be issued by banks insured by the Federal Deposit Insurance Corporation or credit unions insured by the National Credit Union Administration. (W.S. 35-11-418(c))
• For solid waste management facilities, allows operators to deposit irrevocable letters of credit issued by banks or credit unions organized to do business in the United States in lieu of bonds. (W.S. 35-11-504(e))
• Requires irrevocable letters of credit for solid waste facilities to be issued by banks insured by the Federal Deposit Insurance Corporation or credit unions insured by the National Credit Union Administration. (W.S. 35-11-504(e))
• Limits the application of this act to irrevocable letters of credit issued on or after the effective date. (Sec. 2)
• Directs the Environmental Quality Council to promulgate rules necessary to implement the act upon recommendation by the Department of Environmental Quality. (Sec. 3)

Effective: July 1, 2025

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