Environment

Resilient Virginia Revolving Fund; projects; low-income geographic areas and nature-based solutions. Provides that the Department of Conservation and Recreation shall give additional weight to projects located in low-income geographic areas and projects that incorporate nature-based solutions when distributing loans or grants from the Resilient Virginia Revolving Fund to particular local governments. The bill allows the Virginia Resources Authority to contract with any person to serve as a program administrator to be approved by the Department to assist in the distribution of loans and grants to local governments. As introduced, this bill was a recommendation of the Joint Subcommittee on Recurrent Flooding.

Electric utilities; renewable energy portfolio standard; zero-carbon electricity; accelerated clean energy buyers. Revises the conditions under which accelerated clean energy buyers, defined in existing law as accelerated renewable energy buyers, may contract with Appalachian Power or Dominion Energy Virginia to obtain renewable energy certificates (RECs). The bill exempts an accelerated clean energy buyer obtaining capacity, energy, or RECs from qualifying resources or facilities from the assignment of non-bypassable costs associated with compliance with the renewable portfolio standard program based on the amount and type of renewable energy certificates obtained in proportion to such accelerated clean energy buyer's total electric energy consumption. This bill is identical to SB 598.

Virginia Conservation Easement Act; definitions; federally recognized tribes. Provides that a federally recognized tribe, as defined in the bill, can be a conservation easement holder and that such a tribe is not bound by the same restrictions on the location of a principal office or the duration of existence that are placed on other types of easement holders. This bill is a recommendation of the Commission on Updating Virginia Law to Reflect Federal Recognition of Virginia Tribes.

Department of Conservation and Recreation; acquisition of property to establish a state park; Loudoun County. Allows the Department of Conservation and Recreation to acquire from the Conservation Fund approximately 1,240 acres of real property and any buildings or structures thereon between Little River Turnpike, James Monroe Highway, and Tail Race Road, known as Oak Hill Farm, in Loudoun County for the purpose of establishing and operating a state park on such property. This bill incorporates HB 239.

Department of Environmental Quality; carbon market participation; coastal and marine resources. Allows the Department of Environmental Quality to participate in any carbon market for the preservation, restoration, and sustainable management of the Commonwealth's coastal and marine resources on state-owned bottomlands and property and enter into agreements necessary to facilitate such participation. The bill requires the Department to hold exclusive title to such credits until such credits are sold. Any revenues resulting from the sale of such credits are required to be distributed as follows: 75 percent to the Oyster Replenishment Fund and 25 percent to the qualifying leaseholder.

Establishing a resilience hub pilot program to assist vulnerable communities during emergency situations. Directs the Department of Emergency Management to establish a two-year resilience hub pilot program to assist vulnerable communities during emergency situations. The bill defines a "resilience hub" as a simple combination of solar panels and batteries that ensures continuous power to a publicly accessible building when severe weather events or other grid disruptions cause an electrical outage.