HB 70

Resilient Virginia Revolving Fund; projects; low-income geographic areas and nature-based solutions; Interagency Resilience Management Team powers and duties. 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. The bill also directs the Department to require, prior to each new loan or grant offering, that the Interagency Resilience Management Team review applications to the Fund and make recommendations on the disbursements of moneys from the Fund to the Department. This bill is a recommendation of the Joint Subcommittee on Recurrent Flooding.