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2016 SESSION

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HB 351 Virginia Alternative Energy and Coastal Protection Act; created.

Introduced by: Ronald A. Villanueva | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Alternative Energy and Coastal Protection Act. Requires the Governor to seek to join the Regional Greenhouse Gas Initiative or other carbon trading program with an open auction of carbon allowances. The Department of Environmental Quality is directed to establish a carbon dioxide cap and trade program to reduce emissions released by electric generation stations. The revenues from the sale of carbon allowances are to be deposited in the Commonwealth Resilience Fund, a revolving fund established by this measure that is to serve as a revenue source to assist localities with the implementation of adaptation efforts to combat sea level rise and recurrent flooding. The Commonwealth Resilience Fund also provides funding for energy efficiency and conservation programs; economic assistance for families and businesses in Southwest Virginia; renewable energy generation programs, and costs of administering the program.


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