Example: 50 acres permitted; 10 acres bonded; 2 acres requested for release; Minerals Reclamation Fund deposits = $4,000;
Minerals Reclamation Fund balance ÷ remaining bonded acres = $500;
$4,000 ÷ (10-2) acres = $500.
Example: 50 acres permitted; 10 acres bonded; 2 acres requested for release; Minerals Reclamation Fund deposits = $3,000;
Minerals Reclamation Fund balance ÷ total bonded acres = Release amount $ per acre;
$3,000 ÷ 10 acres = $300 per acre;
Release amount = $300 per acre x 2 acres = $600.
4 Va. Admin. Code § 25-31-320
Statutory Authority: § 45.2-103 of the Code of Virginia.