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2017 SESSION

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HB 2018 Virginia Alternative Energy and Coastal Protection Act; established, report.

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 Virginia Shoreline Resiliency Fund, a revolving fund established in 2016 for the purposes of mitigating future flood damage and creating a low-interest loan program to help residents and businesses that are subject to recurrent flooding.


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