SB 56 is a new study measure in the State of New Hampshire concerning the Commission to Study Issues Relative to Groundwater Withdrawals. SB 56 directs the Commission to Study Issues Relative to Groundwater Withdrawals to examine the amount of financial accountability that would be essential for hefty withdrawals of groundwater. The Commission must consider possible harm to the environment and adjacent wells, including unreasonable reductions in well capacity or contaminant migration from off-site sources. The bill initially stated that a financial instrument would have been required, including “bonding or insurance, in at least the quantity of $1 million.” The financial instruments would have been necessary to cover any environmental destruction, including groundwater corruption and unwarranted reductions in well capacity. The bill was transformed into a study measure in the Senate.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog. He has held a range of different roles within the surety industry, from agent assistant to bond issuer, which gives him a unique insider perspective on surety related topics.