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2008 SESSION

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SB 511 Natural Resources Commitment Fund; created.

Introduced by: Mary Margaret Whipple | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Natural resources funding.  Establishes the Virginia Natural Resources Commitment Fund. The Fund would be capitalized with appropriated funds and moneys from public and private sources. Beginning July 1, 2008, and for the next 10 years moneys in the Fund would be distributed to the Department of Conservation and Recreation's Agricultural Best Management Practices Cost-Share Program for the implementation of agricultural best management practices (BMP). Fifty-seven percent of the moneys are to used for matching grants to implement BMPs on agricultural lands exclusively in the Chesapeake Bay watershed and 38 percent of the moneys would be used for all other lands in the Commonwealth. Five percent of the moneys would be allocated to soil and water conservation districts. This bill is identical to HB 1335 (Landes).

SUMMARY AS INTRODUCED:

Natural resources funding. Allocates annually 10 percent of the revenue generated by a one percent sales and use tax, not to exceed $100 million, to fund agricultural best management practices. The sales tax allocation would be deposited into the newly established Virginia Natural Resources Commitment Fund and distributed to the Department of Conservation and Recreation's Agricultural Best Management Practices Cost-Share Program for the implementation of agricultural best management practices (BMP). Fifty-seven percent of the moneys are to used for matching grants to implement BMPs on agricultural lands exclusively in the Chesapeake Bay watershed and 38 percent of the moneys would be used for all other lands in the Commonwealth. Five percent of the moneys would be allocated to soil and water conservation districts.