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AZ HB2278
Bill
Status
Engrossed
2/23/2026
Primary Sponsor
Walter Blackman
Click for details
AI Summary
- Adds third-party escrow and trust accounts as allowable financial assurance mechanisms for mining and aggregate mining reclamation requirements
- Specifies that all interest and earnings from third-party escrow or trust accounts, minus administrative fees, belong to the mine owner/operator and may be applied toward final reclamation costs
- Requires the inspector to release proportional shares of interest earned when partially releasing or substituting funds from escrow or trust accounts
- Removes outdated effective date references (April 1, 1997 and January 1, 2007) from financial assurance requirement provisions
- Applies identical changes to both exploration/mining operations (sections 27-991, 27-996) and aggregate mining operations (sections 27-1291, 27-1296)
Legislative Description
Financial assurance; reclamation; escrow; trusts
Minerals, Oil And Gas - Title 27
Last Action
Senate read second time
3/3/2026
Committee Referrals
Rules3/2/2026
Natural Resources2/23/2026
Rules1/20/2026
Natural Resources, Energy & Water1/20/2026
Full Bill Text
No bill text available