2025 Session Last amended: 2003 session

§ 115B.445 — Depositing Proceeds

Plain-Language Summary

All money paid to the state by insurers — whether through negotiated settlements or court judgments — under the insurance recovery program for qualified landfill cleanup costs must be deposited in the state treasury and split equally between the remediation fund and the closed landfill investment fund. This ensures recovered insurance proceeds support both current cleanup costs and long-term landfill program funding.

Practical Notes
This provision ties insurance recoveries from old landfill policies directly to the two funds that pay for landfill cleanup and long-term monitoring. Splitting the proceeds between the remediation fund (for immediate cleanup costs) and the closed landfill investment fund (for long-term program sustainability) reflects the legislature’s commitment to responsible, long-term management of landfill liability.