The 1990 amendments provided authority to the Secretary to invest that amount not currently needed in public debt securities. The interest income from such investment becomes part of the AML Fund, to be used for reclamation purposes. The 1992 amendments directed the Secretary of the Interior to transfer of an amount of interest from the AML Fund necessary to help meet the needs of unassigned retired beneficiaries of the United Mine Workers of America Combined Benefit Fund. However, other good things follow when lands and water are restored. The infrastructure is improved.
Individuals develop a sense of community and pride in that community.
This can set the stage for renewed economic growth in areas that often are among the neediest in the Nation. The reclamation fees cannot be released to OSM, however, until appropriated by Congress. The chart attached to this testimony gives the details of AML funding from its inception. Once funds are appropriated, then OSM grants to the states an amount based on the statutorily established formula. This formula takes into account the amount collected within the State and Tribal boundaries and production of coal prior to 1977 in arriving at the grant amounts each year.