16333556, 62-342.700 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 16333556

Notice of Development of Rulemaking

Department:

DEPARTMENT OF ENVIRONMENTAL PROTECTION

Chapter:

MITIGATION BANKS

Overview

RULE:

62-342.700

Financial Responsibility

PURPOSE:

This notice supplements the first notice published in Vol. 41, No. 75, April 17, 2015, of the Florida Administrative Register, which identified rule development to allow insurance as a means of demonstrating financial responsibility. Other forms of financial responsibility mechanims will also be established in this rule development. The purpose of this rule development is to amend the existing rule to allow mitigation banks established under Part IV of Chapter 373, F.S., to use additional methods of demonstrating the financial responsibility required pursuant to Section 373.4136(1)(i), F.S. The effect of this rule development will be to establish additional mechanisms for demonstrating financial responsibility for the construction, operation, and long-term management of a mitigation bank.

SUBJECT:

Rule 62-342.700, F.A.C., will be amended to allow mitigation banks to use additional methods of demonstrating financial responsibility. Financial responsibility mechanisms currently authorized in the rule (surety bond, performance bond, trust fund, standby trust fund and irrevocable letter of credit) would remain unaffected.

RULEMAKING AUTHORITY:

373.4131, 373.4136(11) FS.

LAW:

373.4131, 373.4135, 373.4136 FS.

PRINT PUBLISH DATE:

8/20/2015 Vol. 41/162

RELATED STATUTES
AND LAWS:

373.4131, 373.4136(11) FS., 373.4131, 373.4135, 373.4136 FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=62-342.700&PDate=8/20/2015&Section=1

REFERENCE MATERIALS:

No reference(s).

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