2120

LAWS OF MARYLAND

Ch. 766

recoil.

(Z) "REVOLVING ACCOUNT" OR "ACCOUNT" MEANS AN
ACCOUNT ESTABLISHED WITHIN THE BITUMINOUS COAL OPEN-PIT
MINING RECLAMATION FUND FROM THE STATE CONTRIBUTION TO
THE FUND FOR PURPOSES OF MAKING LOANS TO OWNERS OF
ORPHANED LAND.

[(s)] (AA) "Spoil pile" means the overburden and
reject coal as it is piled or deposited in open—pit
mining.

[(t](BB) "Tract" means a single parcel of land or
two or more contiguous parcels of land with common
ownership.

SECTION 2. AND BE IT FURTHER ENACTED, That      new

Sections 7—514.1 through 7—514.5, inclusive, be and    they

are hereby added to Article — Natural Resources, of the

Annotated Code of Maryland (1974 Volume and 1975
Supplement) to read as follows:

Article — Natural Resources

7-514.1

(A)    THE SECRETARY SHALL ESTABLISH WITHIN THE
BITUMINOUS COAL OPEN-PIT MINING RECLAMATION FUND, FROM
THAT PORTION OF THE FOND WHICH REPRESENTS STATE
CONTRIBUTIONS, A REVOLVING ACCOUNT TO PROVIDE ASSISTANCE
TO LANDOWNERS FOR THE RECLAMATION OF ORPHANED LANDS.

(B)    THE DEPARTMENT SHALL ADMINISTER THE REVOLVING
ACCOUNT SOLELY TO PROVIDE INTEREST-FREE LOANS TO PERSONS
FOR THE CONSTRUCTION OF ORPHANED LAND RECLAMATION
PROJECTS. THE ACCOUNT SHALL BE MAINTAINED BY:

(1)    REPAYMENTS OF PRINCIPAL ON LOANS MADE
FROM THE ACCOUNT; AND

(2)    ANNUAL TRANSFER OF FUNDS FROM THE
BITUMINOUS COAL OPEN-PIT MINING RECLAMATION FUND TO
RESTORE THE ACCOUNT TO A LEVEL SUFFICIENT TO CARRY OUT AN
EFFECTIVE ORPHANED MINE RECLAMATION LOAN PROGRAM DURING
THE SUCCEEDING YEAR.

(C)    DURING THE FIRST MONTH OF EACH FISCAL YEAR,
THE DEPARTMENT SHALL SUBMIT TO THE DEPARTMENT OF BUDGET
AND FISCAL PLANNING AN ESTIMATE OF THE AMOUNT OF REVENUES
THAT THE ACCOUNT EXPECTS TO RECEIVE FROM REPAYMENT OF
OUTSTANDING LOANS AND THE AMOUNT OF FUNDS FROM THE
BITUMINOUS COAL OPEN-PIT MINING RECLAMATION FUND REQUIRED
TO REESTABLISH AN ADEQUATE BALANCE IN THE ACCOUNT TO MAKE
LOANS DURING THE NEXT FISCAL YEAR.

7-514.2.

(A) IF A PROJECT IS APPROVED, THE PROPERTY OWNER