| (a) The amount of the performance bonds applicable to a permit may be adjusted by the Commission when the cost of future reclamation work changes. The Commission shall notify the permittee, surety, and any other person with a property interest in the collateral posted under this subchapter (relating to Bond and Insurance Requirements for Surface Coal Mining and Reclamation Operations), of any proposed bond adjustment and provide the permittee an opportunity for an informal conference on the adjustment. Bond adjustments are not subject to procedures of bond release under §§12.312 and 12.313 of this title (relating to Procedures, Criteria, and Schedule for Release of Performance Bond). (b) A permittee may request reduction of the amount of performance bond upon submission of evidence to the Commission proving that the permittee's method of operation or other circumstances will reduce the estimated cost to the Commission to reclaim the
area bonded. This reduction of bond shall be deemed a bond adjustment. (c) In the event that an approved operations and reclamation plan is modified in accordance with Subchapter G of this chapter (relating to Surface Coal Mining and Reclamation Operations Permits and Coal Exploration Procedures Systems), the Commission will review the bond for adequacy and, if necessary, will adjust the bond to conform to the operations and reclamation plan as modified. (d) The amount of the bond or deposit required and the terms of each acceptance of the applicant's bond shall be adjusted by the Commission from time to time as affected land acreages are increased or decreased or where the cost of future reclamation changes.
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