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2016 SESSION

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SB 571 Commonwealth Resilience Fund; established.

Introduced by: A. Donald McEachin | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Regional Greenhouse Gas Initiative; Commonwealth Resilience Fund established. Requires the Governor to join the Regional Greenhouse Gas Initiative that established a regional CO2 electric power sector cap and trade program and establishes the Commonwealth Resilience Fund, a revolving fund to serve as a consistent revenue stream to assist counties, cities, and towns with the implementation of adaptation efforts to combat sea level rise and recurrent flooding. The bill also provides economic development assistance for families, businesses, and localities in Southwest Virginia to offset negative economic impacts associated with reduced fossil fuel production.


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