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2019 SESSION

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CHAPTER 497 An Act to amend and reenact § 62.1-229.5 of the Code of Virginia, relating to living shorelines; loans to businesses. [H 2783] Approved March 18, 2019

 

Be it enacted by the General Assembly of Virginia:

1. That § 62.1-229.5 of the Code of Virginia is amended and reenacted as follows:

§ 62.1-229.5. Loans for living shorelines.

Loans may be made from the Fund, in the Board's discretion, (i) to a local government for the purpose of establishing living shorelines, as defined in § 28.2-104.1, to protect or improve water quality and prevent the pollution of state waters or (ii) to a local government that has developed a funding program to provide low-interest loans or other incentives to businesses or individual citizens of the Commonwealth to facilitate the establishment of living shorelines to protect or improve water quality and prevent the pollution of state waters. To be eligible for loan funding, a business shall be located within a locality that is in the Rural Coastal Virginia Community Enhancement Authority as defined in § 15.2-7600. Eligible businesses include bed-and-breakfast operations, campgrounds, and restaurants, as defined in § 35.1-1, and businesses that use working waterfronts, as defined in § 15.2-2201. The Board shall develop guidelines for the administration of such loans.