Section 444.960 - Fund, coal mine land reclamation, established, purpose, duties1. A "Coal Mine Land Reclamation Fund" is hereby established in the state treasury. Assessments paid pursuant to the provisions of section 444.965 shall be placed in this fund. If a permittee has filed a phase I reclamation bond pursuant to section 444.950, and then fails to complete the reclamation plan for any land for which he has received a permit, moneys within the fund shall be used by the commission to complete the reclamation after the proceeds from any applicable performance bond for such reclamation have been exhausted. Any penalty levied by the commission under section 444.970 shall be paid into the fund.2. Any portion of the fund not immediately needed to pay for reclamation work shall be deposited by the state treasurer in interest-bearing accounts in the same manner as other state funds are so deposited, and the interest earned thereon shall be credited to the fund.3. The fund shall be allowed to accumulate until it reaches the greater of seven million dollars or two thousand five hundred dollars times the number of acres within the state that have been mined but which have not been released by the commission as having been reclaimed. Moneys which accumulate above this ceiling shall be distributed to the contributing companies on an equitable basis as determined by the commission.4. Notwithstanding other provisions of law, the fund shall not lapse at the end of any fiscal year, but shall be held separate and apart from other state funds and shall be used solely for the purposes authorized by the provisions of this section.5. All moneys assessed for the coal mine land reclamation fund after September 1, 1988, shall be allocated such that forty percent of such assessments shall be applied to the reclamation of those permits that have been revoked by the commission prior to September 1, 1988, and sixty percent of such assessments shall be applied to the reclamation of those permits that have been revoked by the commission after September 1, 1988. All moneys within the coal mine land reclamation fund as of September 1, 1988, shall be allocated to the forty percent portion of the fund. After enough moneys have accumulated in the forty percent pool to complete reclamation of those permits that have been revoked by the commission prior to September 1, 1988, all moneys assessed to the coal mine land reclamation fund shall be allocated to the sixty percent fund. The moneys within the respective funds may be utilized by the commission on any aspect of reclamation.L. 1982 S.B. 737, A.L. 1986 S.B. 778, A.L. 1988 H.B. 1836, A.L. 1993 H.B. 312 & 257