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2002 SESSION

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SB 327 Submerged lands and wetlands; dredging projects.

Introduced by: Frank W. Wagner | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Virginia Water Protection Permit; dredging project mitigation; financial responsibility requirements. Allows the Water Control Board to require demonstration of financial responsibility for the completion of compensatory mitigation requirements for dredging projects. Financial responsibility may be demonstrated by letter of credit, certificate of deposit, performance bond, or pursuant to Army Corps of Engineer approval. When the U.S. Army Corps of Engineers requires demonstration of financial responsibility then the mechanism and amount approved by the Corps shall be used to meet this requirement. Directs the Board to promulgate such regulations to be effective within 280 days of enactment. This bill is identical to HB 91.


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