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2010 SESSION

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HB 46 Virginia Defective Drywall Correction and Restoration Assistance Fund; created.

Introduced by: G. Glenn Oder | all patrons    ...    notes | add to my profiles

SUMMARY AS ENACTED WITH GOVERNOR'S RECOMMENDATION: (all summaries)

Virginia Disaster Response Fund; hazardous materials in dwellings.  Creates the Virginia Defective Drywall Correction and Restoration Assistance Fund to promote the correction and restoration of residential property affected by the environmental problems attributable to defective drywall used in new construction or renovation that occurred between 2001 and 2008.  The fund will be administered by the Virginia Resources Authority and the Department of Housing and Community Development.  Under the bill, the Department of Housing and Community Development would develop guidelines for the distribution of loans or grants from the Fund to particular recipients. The grants and loans may be used to pay the reasonable and necessary costs associated with (i) the remediation of a contaminated property to remove hazardous substances, hazardous wastes, or solid wastes, (ii) the stabilization or restoration of such structures or (iii) the demolition and removal of the existing structures or other work necessary to remediate or reuse the real property.  The bill also makes defective drywall restoration or remediation projects eligible for financing by the Authority.


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