This bill significantly amends the Surface Mining Control and Reclamation Act of 1977 to enhance financial assurances for surface coal mining reclamation, aiming to protect taxpayers from liability. It revises the criteria for approving alternative bonding systems , requiring states to submit detailed reports on bond forfeitures, reclamation costs, and a five-year financial forecast to demonstrate the system's soundness and ensure no increased risk to government finances. A major provision of the bill is the outright prohibition of self-bonding for coal mining operations. Effective immediately, the Secretary may not accept new self-bonds under federal programs, and existing self-bonds must be replaced with other acceptable forms of financial assurance by permit renewal or major modification. State regulatory authorities are also mandated to amend their programs within 90 days to eliminate self-bonding and require the replacement of existing self-bonds. Furthermore, the legislation directs the Secretary to issue rules within one year to establish limitations on surety bonds , including maximum quantities per surety, minimum reinsurance percentages, and collateralization requirements, to minimize financial risk. It also restricts the types of property that can be used as collateral , specifically excluding coal, coal mines, and related facilities, and mandates regular re-evaluation of nonliquid collateral. The Secretary is also granted authority to require executive compensation as collateral for bonds.